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The material is educational and not a substitute for legal counsel, and it includes blank sections requiring case-specific information. It also highlights provisions that reference Vermont laws and suggests revisions for other states. 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This resource is not intended to replace the guidance of a legal professional. The situation for each person and party is different and professional legal assistance is recommended to ensure your business agreements are accurate, appropriate and complete.  \nThis template includes sections and language that can be used directly in an Operating Agreement. This educational document, however, is not a complete. The template includes many blank sections that require the addition of specific information for your agreement. Several sections of this document specifically reference relevant laws in the State of Vermont. Agreements prepared in states other than Vermont will require appropriate revisions to consider and comply with all relevant laws of that particular state.  \nIn addition to standard clauses and optional clauses this document also includes reference sections marked by italics. These reference sections further describe considerations or risks related to the selection or omission of specific language in the Operating Agreement.  \nList of ArticleV  \n\n| I: Definitions | V: Allocations—Distributions | IX: Indemnification | XIII: Dissolution and Winding Up |\n| --- | --- | --- | --- |\n| II: Formation | VI: Management | X: Transfers of Interest | XIV: Miscellaneous Provisions |\n| III: Books and Accounting | VII: Meeting of Members | XI: Disassociation of Members |  |\n| IV: Capital Contributions | VIII: Member Representations | XII: Purchase of Disassociated Member’s Interest |  |\n\nVisit [www.maplemanager.org](www.maplemanager.org) for maple development resources.  \nFunding for this resource was made possible by the U.S. Department of Agriculture’s (USDA) Agricultural Marketing Service (AMS) Acer Access and Development Grant AM190100XXXXG033 . Its contents are solely the responsibility of the authors and do not necessarily reflect the official views of the USDA.  \nC U LT IVAT I NG H EA LT HY CO M M U N IT I ES  \nIssued in furtherance of Cooperative Extension work, Acts of May 8 and June 30, 1914, in cooperation with the United States Department of Agriculture. University of Vermont Extension, Burlington, Vermont. University of Vermont Extension, and U.S. Department of Agriculture, cooperating, offer education and employment to everyone without regard to race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, and marital or familial status. Any reference to commercial products, trade names, or brand names is for infrmation only, and no endorsement or approval is intended.  \nC O L L E G E O F A G R I C U L T U R E A N D L I F E S C I E N C E S  \nOPERATING AGREEMENT  \nOF   , LLC  \nTHIS OPERATING AGREEMENT (the “Agreement”) of   , LLC, a Vermont, member-managed limited liability company (the “Company”), is made and entered into this   day of   2021, by and between Member, Member, Member, Member, and Member each of whom is a “Member” and collectively referred to as the “Members.”  \nWITNESSETH:  \nWHEREAS, the Members desire to form a member-managed limited liability company under and pursuant to the Vermont Limited Liability Company Act, 11 V.S.A. §§ 4001-4163, as amended from time to time (the “Act”) .  \nNOW THEREFORE, in consideration of the foregoing, and of the mutual promises set forth herein, and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:  \nARTICLE I  \nDEFINITIONS  \nFor purposes of this Agreement, unless the language or context clearly indicates that a different meaning is intended, the words, terms and phrases defined in this Section have the following m","cbCaip4XlD6jDgq3","https://ap.wps.com/l/cbCaip4XlD6jDgq3","pdf",3009778,24,"English","# About This Template\n# Article I Definitions\n# Article V Allocations—Distributions\n# Article VI Management\n# Article VII Meeting of Members\n# Article VIII Member Representations\n# Article IX Indemnification\n# Article X Transfers of Interest\n# Article XI Disassociation of Members\n# Article XII Purchase of Disassociated Member’s Interest\n# Article XIII Dissolution and Winding Up\n# Article XIV Miscellaneous Provisions","[{\"question\":\"What is the purpose of this operating agreement template?\",\"answer\":\"It provides sections and clause language that can be used directly to formalize an LLC Operating Agreement for maple-related business participants in Vermont.\"},{\"question\":\"Is this template legal advice?\",\"answer\":\"No. It is an educational resource and does not replace guidance from a legal professional, which is recommended to ensure accuracy and completeness.\"},{\"question\":\"Do provisions referencing Vermont laws apply to other states?\",\"answer\":\"No. Agreements prepared outside Vermont require revisions to comply with the relevant laws of that state.\"}]","FBFS045 - Operating Agreement Template - 4 - Educational Resource | PDF",1789569005,8]