An operating agreement is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the agreement is not capable of performance within one year of its making.
805 ILCS 180/1-46
Applicability of statute of frauds
Known as the Limited Liability Company Act
The act spans §§ 805-180-1-1 to 805-180-1-65 (22 sections).
P.A. 99-637, eff. 7-1-17.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.