Document background
The Limited Liability Company Operating Agreement Single Member is a crucial document for entrepreneurs and business owners establishing a single-member LLC in the United States. This agreement becomes necessary immediately upon LLC formation and serves multiple purposes: it establishes clear separation between personal and business assets (essential for maintaining liability protection), defines operational procedures, and sets forth the framework for business governance. While single-member LLCs may operate without a formal operating agreement in some states, having this document is strongly recommended as it provides additional legal protection, helps maintain the corporate veil, and is often required by banks, investors, or other third parties. The agreement typically addresses key aspects such as capital contributions, profit distributions, management structure, succession planning, and dissolution procedures, all tailored to the single-member context.
