Firstly an operating agreement is not required in each and every state. However the value of ensuring you have an operating agreement is crucial for protection of the running of your company.u003cbr/u003eAlso if you are a multi member LLC this agreement will outline each member’s responsibility to the LLC.u003cbr/u003eu003cemu003eHaving an operating agreement in place is very important in the unfortunate event of a member dispute or lawsuit from a third party.u003c/emu003e