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Printable Single-Member Operating Agreement Form

A Single-Member Operating Agreement is a legal document that outlines the management structure and operational guidelines for a single-member limited liability company (LLC). This agreement serves to clarify the owner's rights and responsibilities while protecting personal assets from business liabilities. To ensure your LLC runs smoothly, consider filling out this important form by clicking the button below.

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Table of Contents

Document Overview

Fact Name Description
Definition A Single-Member Operating Agreement outlines the management and operational procedures for a single-member LLC.
Legal Requirement Not all states require an operating agreement, but having one is highly recommended for clarity and legal protection.
Governing Law The agreement is governed by state law, which varies by jurisdiction. For example, California LLCs follow the California Corporations Code.
Ownership Structure This document confirms that the single member is the sole owner of the LLC, establishing clear ownership rights.
Liability Protection Having an operating agreement helps maintain the limited liability status of the LLC, protecting personal assets from business liabilities.
Bank Requirements Many banks require an operating agreement to open a business bank account for the LLC.
Flexibility The agreement allows the member to customize management and operational structures according to personal preferences.
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Popular Single-Member Operating Agreement Types:

How to Write an Operating Agreement - This document ensures compliance with state regulations governing multi-member businesses.

Documents used along the form

A Single-Member Operating Agreement is a vital document for sole proprietors of limited liability companies (LLCs). It outlines the management structure and operational procedures of the business. However, several other forms and documents often accompany it to ensure comprehensive legal compliance and smooth business operations. Below is a list of these documents, each serving a unique purpose.

  • Articles of Organization: This document is filed with the state to officially create the LLC. It includes essential information such as the business name, address, and the name of the registered agent.
  • Employer Identification Number (EIN) Application: An EIN is required for tax purposes and is often necessary for opening a business bank account. This application can be submitted to the IRS online.
  • Business License: Depending on the type of business and location, a license may be required to operate legally. This document ensures compliance with local regulations.
  • Operating Procedures Manual: This internal document outlines the day-to-day operations of the business. It can include policies on employee conduct, customer service, and other operational guidelines.
  • Bylaws: While not always necessary for single-member LLCs, bylaws can provide additional structure by detailing the rules governing the business's internal management.
  • Membership Certificates: Although typically used in multi-member LLCs, a membership certificate can also be issued to signify ownership in a single-member LLC, providing a formal acknowledgment of ownership.
  • Bank Resolution: This document allows the business to open a bank account in the LLC's name. It typically outlines who has the authority to manage the account.
  • Annual Report: Many states require LLCs to file an annual report to maintain good standing. This report provides updated information about the business and its owners.
  • Non-Disclosure Agreement (NDA): If the business plans to share sensitive information with employees or contractors, an NDA can protect proprietary information from being disclosed.
  • Sales Tax Permit: If the business sells goods or services subject to sales tax, obtaining this permit is necessary to collect and remit sales tax to the state.

Understanding these documents and their purposes can help streamline the setup and operation of a single-member LLC. Each one plays a role in ensuring that the business is compliant with state and federal regulations, protecting both the owner and the business itself.

Document Sample

Single-Member Operating Agreement Template

This Single-Member Operating Agreement is made on this _____ (day) of _____ (month), _____ (year), by and between:

Member's Name: _______________________

Address: ____________________________

This Operating Agreement is established under the laws of the State of _____________ (insert state name). This document outlines the structure and operations of the single-member limited liability company (LLC).

Article I: Formation

The Member has formed a single-member limited liability company pursuant to the provisions of the laws of _____________ (insert state name). The LLC shall be known as:

Company Name: _______________________

Article II: Purpose

The purpose of the LLC is to engage in any lawful business activity allowed under the laws of _____________ (insert state name).

Article III: Member

  • The sole Member of the LLC is the individual identified above.
  • The Member shall have complete authority over the company.

Article IV: Management

The LLC will be managed by the Member. The Member has the power to:

  • Make decisions regarding the operations of the LLC.
  • Execute contracts and make agreements.

Article V: Capital Contributions

The Member has contributed the following capital to the LLC:

Amount: $ _______________

The Member may contribute additional capital as agreed upon.

Article VI: Distributions

Distributions from the LLC shall be made as follows:

  • Distributions will be made to the Member at the Member's discretion.

Article VII: Indemnification

The LLC shall indemnify the Member to the fullest extent permitted by law against any expenses incurred in connection with the LLC.

Article VIII: Amendments

This Operating Agreement may be amended only by a written agreement signed by the Member.

Article IX: Governing Law

This Agreement and the rights of the parties hereunder shall be governed by and construed in accordance with the laws of the State of _____________ (insert state name).

IN WITNESS WHEREOF, the undersigned Member has executed this Operating Agreement as of the date first above written.

Member's Signature: _______________________

Date: _______________________