New Mexico LLC Operating Agreement
Free LLC Operating Agreement Template
Your New Mexico LLC operating agreement is the document that governs your LLC’s internal policies. Use our lawyer-reviewed, single-member LLC operating agreement template for free. Just fill in your business information, download, and print your New Mexico operating agreement. You can save your progress at any point.
LLC + Custom New Mexico Operating Agreement
Starting a multi-member or manager-managed LLC? Get a customized New Mexico operating agreement template, plus a year of registered agent service, when you hire New Mexico Registered Agent to form your LLC.
What Is Included in a New Mexico LLC Operating Agreement?
In broad terms, your operating agreement can include any provisions you choose, as long as they don’t contradict your Articles of Organization or the New Mexico Limited Liability Company Act.
Here are some topics every New Mexico operating agreement should cover:
- Initial contributions
- Ownership percentages
- Powers and responsibilities of members and managers
- Distribution of profits and losses
- Management structure
- Voting rights and procedures
- Transferring membership interest
- Adding or removing members
- Bookkeeping
- Compensation for services to the LLC
- Dissolution
Is an Operating Agreement Required for an LLC in New Mexico?
No, state law doesn’t explicitly require New Mexico LLCs to adopt an operating agreement. Even so, your operating agreement serves as a road map for handling all the important situations your company is likely to face, so it’s strongly recommended for all LLCs.
Does a single-member LLC need an operating agreement?
Yes. Even if you’re the sole owner of your LLC, having a written operating agreement is still important. Your operating agreement can help you prove you own your LLC, which you may need to do when opening a business bank account. Also, having (and following) a written operating agreement can help you maintain the separation between LLC and owner that’s necessary for protecting your LLC’s limited liability status.
Is a New Mexico operating agreement legally binding?
Yes. Your operating agreement is a legally binding contract between the members of your LLC. It’s a good idea to consult a lawyer and make sure everyone in your LLC has read and understood your operating agreement before finalizing it.
Does an operating agreement need to be notarized in New Mexico?
No, operating agreements are not required to be notarized. Your LLC operating agreement is an official legal document whether or not it is notarized.
Will my operating agreement go on the public record?
No. Your operating agreement, unlike your Articles of Organization, is an internal document, so it doesn’t need to be submitted to the New Mexico Secretary of State and will not go on the public record.
Why Do I Need an Operating Agreement?
The state of New Mexico helps LLC owners protect their privacy by not requiring owners’ names on the Articles of Organization. However, it’s still important to have a legal document showing who owns the LLC. Your operating agreement, which should include all members’ names and addresses, can be used to prove ownership when opening a business bank account and for other purposes.
Your operating agreement establishes important policies and procedures for your LLC, like who’s in charge, how meetings and votes will be held, how members can be added or removed, and even how you’ll handle dissolution. Agreeing on these policies in advance can help you avoid conflict down the road.
New Mexico law states that any situations not covered in your Articles of Organization or operating agreement will be governed by New Mexico’s default LLC laws. These laws may not be the best fit for your LLC. Your operating agreement lets you establish your own rules for transferring ownership, voting, and other important matters.
Free Custom NM Operating Agreement with LLC Formation
When you hire us to form your LLC for $100 + state fees, you get a custom, attorney-drafted operating agreement, a full year of New Mexico registered agent service, lifetime local customer support, and much more.