Alaska LLC operating agreement

What Alaska’s LLC act says

Alaska calls the document an operating agreement and defines it in the definitions section of the LLC act, where it means a written agreement among all the members. ⁴

Alaska defines an operating agreement as a written agreement among all of the members about conducting the company's affairs. The act does not say anything about oral or implied agreements. ⁴

Not confirmed for Alaska from an official source: a list of terms an Alaska agreement cannot change, whether an Alaska agreement is filed with the state, what Alaska's act says about a one-member company's agreement.

What happens with no agreement

In Alaska the members manage the company and make its decisions unless the articles of organization provide otherwise. An operating agreement can limit or increase the members' management rights. ²

Unless an operating agreement says otherwise, Alaska members are repaid their capital contributions and then share equally in the remaining profits and other assets of the company. ³

What the template covers in Alaska

• Company Details. The company's name, state, effective date and principal office.
• Members & Management. Who the members are, whether there is one or several, and who runs the company.
• Capital & Distributions. What each member puts in and how profit is paid out.
• Taxes. The federal tax treatment the company reports under.
• Transfers & Buyout. What happens when a member sells, leaves or is bought out.
• Governance & Legal Terms. How votes, outside work, confidentiality and disputes are handled.
• Succession. Who takes over a single-member company if its member cannot act.
• Notarization. An optional notary acknowledgment page.

Alaska’s default management and profit rules are in the sections above. In the template you pick member-managed or manager-managed, and ownership share or equal shares for profit.

You also choose single-member or multi-member. The text is built in the Document Builder, not printed here.

Where it fits when you form an Alaska LLC

You form an Alaska LLC by filing with Alaska’s Division of Corporations.

The Alaska biennial report is due every two years, by January 2. ⁵

Alaska uses "registered agent" and "registered office." AS 10.50.055 says an LLC "shall continuously maintain in this state a registered agent and a registered office." ⁶

Search the Alaska business records at the Division of Corporations before you file: Alaska entity search.

The operating agreement for an Alaska LLC is separate from the Alaska formation filing.