Get the free Single-member Llc Operating Agreement

This is a contract template for a Single-Member LLC operating agreement specifically designed for member-managed LLCs formed in the State of Washington. It outlines the management structure, indemnification provisions, and tax status. This agreement is intended for use by individuals who are the sole members of their LLC and explains the expectations and legal structures involved.

How to fill out single-member llc operating agreement

How to fill out single-member llc operating agreement

1. Title the document as 'Single-Member LLC Operating Agreement'.
2. Begin with an introductory statement that identifies the LLC, including its name and the date of formation.
3. Define the purpose of the LLC, outlining the nature of the business.
4. Include the name and address of the sole member.
5. Specify the capital contribution of the member, detailing the initial investment made.
6. Outline the management structure, indicating that the member will manage the LLC.
7. Explain the distribution of profits and losses, stating how these will be allocated to the member.
8. Include provisions for bookkeeping and record-keeping, mentioning how records will be maintained.
9. Specify the duration of the LLC, stating whether it is perpetual or for a specific period.
10. Provide clauses for amendments to the operating agreement.
11. End with a signature line for the member, along with the date of signing.

Who needs single-member llc operating agreement?

1. Any individual who forms a single-member LLC needs an operating agreement to define the business structure and protect personal liability.
2. Business owners who want to clarify their business's operations and management specifically in a sole ownership context.
3. Those seeking to establish credibility with banks, investors, or clients, as an operating agreement demonstrates professionalism.

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What is single-member llc operating agreement?

A single-member LLC operating agreement is a legal document that outlines the business structure, ownership, and operating procedures of a single-member limited liability company.

Who is required to file single-member llc operating agreement?

While it is not legally required in all states, it is advisable for the owner of a single-member LLC to create and retain an operating agreement to establish their business's structure and protect their limited liability.

How to fill out single-member llc operating agreement?

To fill out a single-member LLC operating agreement, provide essential details such as the name of the LLC, the owner's name, the purpose of the business, management structure, and provisions for decision-making and financial distribution.

What is the purpose of single-member llc operating agreement?

The purpose of a single-member LLC operating agreement is to clarify the structure and management of the LLC, protect the owner's limited liability status, and serve as a guideline for the operation of the business.

What information must be reported on single-member llc operating agreement?

The operating agreement must report information such as the LLC's name, owner's details, the business purpose, management structure, voting rights, and provisions for profit distribution.