Not required by statute: members 'may' enter into an operating agreement, which may be written or oral (IC 23-18-4-5, 23-18-1-16); many defaults can be changed only by a written agreement. Fill in the form to build a Indiana operating agreement for a single-member or multi-member LLC, governed by the Indiana Business Flexibility Act. Download it as PDF or Word and keep the signed copy with the company records; it is not filed with the state.
This template is a starting point, not legal advice, and Jupid is not a law firm. LLC law differs by state, and Indiana courts apply Indiana law. Have an attorney licensed in your state review the agreement before every member signs, especially if members contribute property, receive unequal rights, or plan to bring in investors.
Company
Governed by the Indiana Business Flexibility Act. Not required by statute, but strongly recommended. Indiana rules
Owners
Member
Management
Match what your Articles of Organization says, if it states the management structure.
Taxes
Succession
Lets the LLC continue without a gap in ownership. Coordinate with your will or trust.
Live preview: 11 articles
A Indiana single-member, member-managed limited liability company
This Operating Agreement (this "Agreement") of Blue Harbor Studio LLC (the "Company") is made effective as of March 2, 2026 (the "Effective Date") by its sole member listed in Schedule A (the "Member").
1.1 Formation. Blue Harbor Studio LLC (the "Company") was formed as a Indiana limited liability company on March 2, 2026 by filing its Articles of Organization with the Indiana Secretary of State. The Indiana Business Flexibility Act (the "Act") and this Agreement govern the Company. Where this Agreement differs from a default rule of the Act, this Agreement controls to the extent the Act allows.
1.2 Purpose. The purpose of the Company is graphic design, branding and marketing services, and any other lawful business for which a limited liability company may be formed under the Act.
1.3 Principal Office. The Company's principal office is at 1200 Main Street, Suite 300, Indianapolis, IN, or at another place the Member chooses.
1.4 Registered Agent. The Company's registered agent and registered office in Indiana are those stated in its most recent filing with the Indiana Secretary of State.
1.5 Term. The Company continues until it is dissolved and its affairs are wound up under Article 10.
2.1 Sole Member. Alex Rivera (the "Member") is the sole member of the Company and owns 100% of the membership interests. The Member's address and Capital Contribution are listed in Schedule A.
2.2 Capital Contribution. The Member has contributed or will contribute the money, property or services stated in Schedule A. The Member is not required to make any additional contribution but may do so at any time.
2.3 No Interest on Capital. The Member earns no interest on its Capital Contributions. A loan from the Member to the Company is not a Capital Contribution.
3.1 Profits and Losses. All profits and losses of the Company are allocated to the Member.
3.2 Distributions. The Member decides when the Company makes distributions and in what amounts.
3.3 Limits on Distributions. The Company will not make a distribution if, after the distribution, the Company could not pay its debts as they become due in the ordinary course of business, its total liabilities would exceed its total assets, or the distribution would otherwise violate the Act.
4.1 Classification. The Company has one Member. Under Treasury Regulations Section 301.7701-3(b)(1)(ii), it is disregarded as an entity separate from its owner for federal income tax purposes unless the Member elects otherwise by filing IRS Form 8832 or Form 2553. Being disregarded for income tax purposes does not change the Company's separate legal existence or the Member's limited liability under the Act.
5.1 Management by the Member. The Company is member-managed. The Member has full authority to run the business, sign contracts, open accounts and take any other action for the Company. The Member may act by signing a written consent and is not required to hold meetings.
5.2 Officers and Agents. The Member may appoint officers or agents, give them titles and delegate authority to them in writing.
6.1 Transfers. The Member may transfer all or part of its membership interest. A person who receives the Member's entire interest is admitted as a member when the transfer takes effect.
6.2 Additional Members. The Member may admit additional members by written consent. When a second member is admitted, the members will sign an amended operating agreement that covers voting, distributions and transfers. Once the Company has two or more members, it is classified as a partnership for federal income tax purposes unless it has elected to be taxed as a corporation.
7.1 Successor on Death. On the Member's death, the person who inherits the Member's interest under the Member's will or trust or under the laws of intestacy succeeds to the Member's entire interest and is admitted as the member effective as of the date of death, so that the Company continues without dissolution. Until the successor is admitted, the Member's personal representative may exercise all of the Member's rights to manage the Company.
7.2 Incapacity. If the Member becomes unable to manage the Company because of a physical or mental condition, the Member's agent under a durable power of attorney, or a court-appointed guardian or conservator, may exercise the Member's management rights until the Member can act again.
8.1 Books and Fiscal Year. The Company keeps complete and accurate books of account. Its fiscal year is the calendar year unless tax law requires otherwise, and its books are kept on the cash or accrual method the Member chooses for its tax returns.
8.2 Records. The Company keeps the records required by IC 23-18-4-8, at the location that section requires, including a copy of its Articles of Organization and all amendments, this Agreement and all amendments, a current list of its Member with addresses, Capital Contributions, and its federal, state and local tax returns and financial statements for at least the three most recent years.
8.3 Bank Accounts. All Company money is deposited in accounts in the Company's name and used only for Company purposes. Company funds are never mixed with the personal funds of the Member. The Member, and anyone they authorize in writing, may sign on Company accounts.
8.4 Separate Existence. The Company holds itself out as a legal entity separate from the Member. It signs contracts in its own name, pays its debts from its own funds, keeps its own books and accounts, and does not pay the personal expenses of the Member. These practices help preserve the limited liability the Act gives to the Member.
9.1 Limited Liability. To the fullest extent the Act allows, no Member or officer is personally liable for any debt, obligation or liability of the Company, whether arising in contract, tort or otherwise, solely because of that role. A failure of the Company to observe formalities is not a ground for imposing personal liability on the Member.
9.2 Exculpation. No Member or officer is liable to the Company for any act or omission in good faith on behalf of the Company, except for gross negligence, willful misconduct, a knowing violation of law, a transaction from which the person received an improper personal benefit, or a breach of this Agreement.
9.3 Indemnification. To the fullest extent the Act allows, the Company will indemnify and hold harmless the Member and each officer against losses, judgments, settlements and reasonable legal fees arising from claims related to the Company's business, except for conduct listed as an exception in Section 9.2. The Company may advance legal fees if the person agrees in writing to repay them if it is later determined that the person was not entitled to indemnification.
9.4 Insurance. The Company may buy insurance on behalf of any person it may indemnify.
10.1 Events of Dissolution. The Company dissolves only on:
10.2 Winding Up. On dissolution, the Member will wind up the Company's affairs, sell or distribute its assets, and file the dissolution or cancellation documents the Indiana Secretary of State requires.
10.3 Order of Payment. Company assets are applied in this order: first, to creditors, including the Member if it is a creditor, in satisfaction of the Company's debts; second, to reasonable reserves for contingent liabilities; and third, to the Member.
11.1 Governing Law. This Agreement is governed by the laws of the State of Indiana, including the Indiana Business Flexibility Act (Ind. Code § 23-18-1-1 et seq.).
11.2 Entire Agreement. This Agreement, including its schedules, is the entire agreement of the Member about the Company and replaces any earlier oral or written agreement on the same subject.
11.3 Amendments. This Agreement may be amended only by a writing signed by the Member.
11.4 Severability. If any provision of this Agreement is held invalid or unenforceable, the rest of the Agreement stays in effect, and the provision is enforced to the greatest extent allowed.
11.5 Binding Effect; No Third-Party Beneficiaries. This Agreement binds and benefits the Member and its permitted successors and assigns. No creditor or other third party may enforce it.
The Member signs this Agreement effective as of the Effective Date.
Date: ________________
| Member | Address | Capital contribution | Percentage interest |
|---|---|---|---|
| Alex Rivera | 48 Oak Lane, Indianapolis, IN | $5,000 (Cash) | 100% |
| Total | $5,000 | 100% |
Template from jupid.com. Not legal advice; Indiana law varies, so have an attorney review this document before signing.
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LLC statute
Indiana Business Flexibility Act (Ind. Code § 23-18-1-1 et seq.)
Required?
Not required by statute: members 'may' enter into an operating agreement, which may be written or oral (IC 23-18-4-5, 23-18-1-16); many defaults can be changed only by a written agreement.
Filed with the state?
No. You file the Articles of Organization with the Indiana Secretary of State; the operating agreement stays with the company records.
What the statute calls it
operating agreement
Records rule
Yes: copies of any written operating agreements and amendments, and of written operating agreements no longer in effect, must be kept at the principal office (IC 23-18-4-8(a)(4)).
Annual or biennial report
Business Entity Report (biennial), $32 online (INBiz); $50 paper, due every two years by the end of the anniversary month of formation; first report due two years after formation.
Series LLCs
Authorized, IC 23-18.1 (Series Limited Liability Companies): the master LLC's articles must state it may designate series, its name carries '-S', and articles of designation are filed for each series (IC 23-18.1-6-1, 6-2, 6-7)
Community property state
No.
Indiana LLCs are formed under the Indiana Business Flexibility Act, IC 23-18. The act lets members adopt an operating agreement but does not require one: under IC 23-18-4-5, members may enter into an operating agreement to regulate any aspect of the company's affairs or the relations of members and managers. An operating agreement can be written or oral (IC 23-18-1-16), but many of the act's default rules can be changed only by a written operating agreement, and an amendment to a written agreement must itself be in writing (IC 23-18-4-6(c)).
The operating agreement is not filed. The LLC is formed by filing articles of organization with the Secretary of State (IC 23-18-2-4), while the company must keep copies of any written operating agreements and amendments, including agreements no longer in effect, at its principal office (IC 23-18-4-8(a)(4)). A member can inspect and copy those records after giving five business days' written notice (IC 23-18-4-8(b)).
Unless the articles of organization provide for managers, management is vested in the members (IC 23-18-4-1). Voting is weighted by money, not headcount: decisions need a majority in interest, meaning members who contributed more than 50 percent of the agreed value of all contributions (IC 23-18-1-13; IC 23-18-4-3(a)). Amending the operating agreement takes the consent of all members unless a written operating agreement says otherwise (IC 23-18-4-3(c)). Profits, losses and distributions are also shared by the agreed value of contributions (IC 23-18-5-3; IC 23-18-5-4).
For an LLC formed after June 30, 1999, a member may not withdraw before dissolution unless a written operating agreement allows it (IC 23-18-6-6.1). When a member does cease to be a member, for example by death or removal, the member is entitled, unless the operating agreement provides otherwise, to the fair value of the interest within a reasonable time (IC 23-18-5-5.1). An assignee receives only distributions and gets no management rights (IC 23-18-6-3.1).
Indiana authorizes series LLCs through a separate article, IC 23-18.1. A master LLC must state in its articles of organization that it may designate series, its name must carry "-S" after the entity ending, and each series begins when articles of designation are filed (IC 23-18.1-6-1, 23-18.1-6-2, 23-18.1-6-7). The master LLC's operating agreement can set out the governance of each series or refer to a separate series agreement (IC 23-18.1-2-6).
Indiana LLCs file a Business Entity Report with the Secretary of State every two years rather than every year. The first report is due two years after formation, in the month and day the LLC was formed, with time to the end of that month. The fee is $32 on INBiz or $50 on paper, and failure to file leads to administrative dissolution. Check the current statute before relying on a default rule.
Indiana statute sections and agency pages checked October 2026. Statutes change; confirm the current text before relying on a default rule.