A Montana LLC operating agreement is an agreement among an LLC's members that governs how the business is run and how the members, managers, and company deal with each other.[1] This page offers a free operating agreement template for Montana, written for a single-member LLC, one with a sole owner. Fill it in online or download it as a PDF, Word, or OpenDocument file. Montana law lets members set their own terms within limits.[2]
Last Updated: October 2026. This guide is reviewed and updated regularly to reflect current Montana law. If you notice an error or outdated information, please contact us.
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Montana's LLC statute defines the operating agreement and says what members can and cannot agree to. The definition is in Mont. Code Ann. § 35-8-102.[1] The rules on what the agreement may cover, whether it must be written, and where its limits sit are in Mont. Code Ann. § 35-8-109.[2]
"Operating agreement" means an agreement, including amendments, as to the conduct of the business and affairs of a limited liability company and the relations among the members, managers, and the company that is binding upon all of the members.
An operating agreement does not have to be signed, notarized or even written.[2] Montana law says all members of an LLC may enter into an operating agreement, which need not be in writing, so an oral agreement can be valid. Many LLCs still put theirs in writing so every member can point to the same terms.[2]
A writing is required for three kinds of changes. Under the statute, an operating agreement must be in writing to vary the recordkeeping requirements, the rights of members to share in distributions, or the process for admitting members.[2]
The agreement also cannot override certain parts of the statute. The operating agreement may not:
Two of these limits come with exceptions. On the duty of loyalty, the agreement may identify specific types or categories of activities that do not violate the duty, if that is not manifestly unreasonable. It may also specify the number or percentage of members or disinterested managers who can authorize or ratify a specific act or transaction after full disclosure of all material facts.[2]
On good faith and fair dealing, the agreement may set the standards for measuring performance, if the standards are not manifestly unreasonable.[2]
To the extent the operating agreement does not otherwise provide, the LLC statute governs relations among the members, managers, and the company. The terms of an operating agreement are interpreted under Montana's general statutory rules for interpreting contracts, found in Title 28, chapter 3.[2]
Montana law, not the operating agreement, protects members from the LLC's debts. A member or manager of an LLC is not liable for the company's debts solely by reason of being a member or manager (Mont. Code Ann. § 35-8-304). The operating agreement documents how the LLC is run.[3]
This template is a 15-page agreement for a single-member LLC with one or more managers. You fill in blanks and select boxes in a few places, and the rest of the text stays as written. Download the PDF and complete it in the online PDF editor, or use the document builder above. The steps below follow the order of the form.
Before signing, the Member should read the whole document. If any wording or concept raises doubts, it makes sense to ask a lawyer.
An operating agreement is an agreement, including amendments, about how an LLC's business and affairs are conducted and how the members, managers, and the company deal with each other. In Montana, it is binding upon all of the members.[1]
Yes, the members can make their own. Montana law says all members of an LLC may enter into an operating agreement, which need not be in writing. Its purpose is to regulate the affairs of the company and the conduct of its business and to govern relations among the members, managers, and company.[2] A template like this one gives you a starting draft, and the limits above still apply to whatever you write.
The LLC statute fills the gaps. To the extent the operating agreement does not otherwise provide, the statute governs relations among the members, managers, and company.[2]
General information, not legal or tax advice.
Unless noted otherwise, the sources below are from the Mont. Code Ann..
