While it is a good idea to establish a business agreement before submitting your articles from the organization, the state does not prevent llCs from waiting for the educational process to be completed. It should be noted that some banks require you to submit an operating contract to open a commercial bank account. c) Individual member LLC. An LLC with only one member may accept an enterprise agreement between the member and the LLC and, if so, is bound by an enterprise agreement. Yes, yes. While you do not submit this document to the state, an enterprise agreement is the best way to keep control of your Tennessee LLC in terms of changes or chaos. a) General. Unless otherwise stipulated in the provisions of P. 48-249-205, all members of an LLC may enter into a corporate agreement to settle the affairs of the LLC and business activities and settle relationships between members, owners, managers, directors, executives and the LLC. Persons other than members, including financial rights holders, may, but must also enter into, the operating contract. The LLC may also be a party to the operating contract.

An operating contract may be entered into before, after or at the time of the submission of organization items and, whether concluded before, after or at the time of this presentation, takes effect from the creation of the LLC or at a later date or date provided for by the enterprise agreement. If the statutes or a written provision of an enterprise contract do not expressly require anything else, it is not necessary for a business agreement to be entered into in writing. The written provisions of an enterprise agreement should not be defined in a single integrated document. You`re the only member to do the show. This section describes your skills (control, management, management, operations, etc.) and your responsibilities (contract signing, record-keeping, etc.). Once you have entered into your operating contract, you no longer need to submit it to your status. Keep it for your recordings and give copies to your LLC members. An enterprise agreement for a Tennessee company is a legal document specifically intended to be used by an individual contractor who wishes to define guidelines, procedures, day-to-day activities, among others, for his company. The document also provides protection on personal financial accounts and assets owned by the private owner. While this document is not a requirement, it is essential that owners consider implementing the document. If the owner finds that he is entitled to rights against his business as long as the document is available, the owner is not liable for claims with private assets.