The Single Member LLC Operating Agreement
The Single Member LLC Operating Agreement
Please note: we are unable to answer follow-up questions about this agreement.
The Single Person LLC Operating Agreement is the most important document a solo person LLC can have. In fact, it’s something I require all of my clients to have- and many states do as well. This document will prove that your business is in fact a business, and that it should be treated separately from your personal assets.
This Operating Agreement is a redacted iteration of the Operating Agreement that our founder and lead shop attorney uses for her own LLCs.
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The name of the company, the date it is formed, and which state’s Limited Liability Company Act it is governed by
The purpose of the company, it’s address and principal place of business
What capital contributions were made, and how much
How future contributions, interest, profit and losses and distributions will be handled
How the LLC will be managed, and the allocation of votes
How new members may be added to the LLC
The duties of members, including duties of care, good faith, and loyalty
How books, records and accounting will be handled
Policy around dissolution of the LLC
Who is required to give consent of any amendments to the operating agreement
General legal provisions including: Indemnification, entire agreement, governing law, severability, notices, no waiver, and counterparts
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This is an essential template for any business owner who is looking to form an LLC.
With this agreement, you’ll clearly define how the company is to be run and managed.
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Instant access to:
An instruction guide on how to edit & use your template
Your legal template in .docx format which may be edited in any word processor or Google Docs
Highlighted sections and instructions in the template on how to properly customize it to your business
The operating agreement is the document that governs the LLC, and is something you will typically need when opening a business bank account. In order to protect your status as a business, and ensure that your business isn’t governed by default state laws you probably didn’t even know existed, an operating agreement is an essential document for your business.
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