2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 89 - Limited Liability Companies
8916 - Operating agreement.

     § 8916.  Operating agreement.
        (a)  General rule.--The operating agreement of a limited
     liability company need not be in writing except where this
     chapter refers to a written provision of the operating
     agreement. If a written operating agreement provides that it
     cannot be amended or modified except in writing, an oral
     agreement, amendment or modification shall not be enforceable.
        (b)  Freedom of contract.--An operating agreement may contain
     any provision for the regulation of the internal affairs of a
     limited liability company adopted by the members, whether or not
     specifically authorized by or in contravention of this chapter,
     except where this chapter:
            (1)  refers only to a rule as set forth in the
        certificate of organization; or
            (2)  expressly provides that the operating agreement
        shall not relax or contravene any provision on a specified
        subject.
        (c)  Cross references.--See sections 8913(8) (relating to
     certificate of organization) and 8915 (relating to modification
     by agreement).
     (June 22, 2001, P.L.418, No.34, eff. 60 days)

        2001 Amendment.  Act 34 added section 8916.
        Cross References.  Section 8916 is referred to in section
     8915 of this title.

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