While certain states require every limited liability to create and maintain an updated version of the basic LLC Operating Agreement, most states do not ask business owners to set out the hierarchy of the company in writing explaining how the entity will determine its policy and vote on the most important matters that impact the future of the organization. However, even if there is no legal requirement to write a document of this kind, you should consider the benefits of this agreement: you will need guidance regarding the choices your company makes and procedures to follow whenever there is a major disagreement between the members of the LLC and the management. There will be no need to submit an Operating Agreement with any local or state authorities; however, it may come in handy whenever you are negotiating with potential business partners or suppliers that might want to learn more about the way your business works.