Document background
The Manager Managed LLC Operating Agreement is a foundational document used when establishing or converting to a professionally managed Limited Liability Partnership in India. This document is particularly crucial when members want to delegate day-to-day management responsibilities to appointed professional managers while maintaining strategic oversight. It provides comprehensive coverage of management structure, capital arrangements, profit sharing, and operational procedures, all within the framework of Indian business law, particularly the Limited Liability Partnership Act, 2008. The agreement is essential for businesses seeking to establish clear separation between ownership and management, making it ideal for growing companies, family businesses transitioning to professional management, or startups planning for scalable operations with professional leadership.
