Document background
The Member Managed Operating Agreement serves as the primary governing document for Limited Liability Partnerships in Singapore where members directly participate in management decisions. This document becomes essential when establishing an LLP structure where partners want equal say in day-to-day operations rather than appointing designated managers. It addresses crucial aspects such as capital contributions, profit distribution, voting rights, and member obligations while ensuring compliance with Singapore's LLP Act 2005. The agreement is particularly valuable for professional services firms, small businesses, and startups where partners prefer collective decision-making and direct involvement in management.
