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This document is an Operating Agreement for a Single-Member Limited Liability Company (LLC) formed in Rhode Island. It outlines the formation, purposes, powers, duration, financial provisions, and governance of the LLC, detailing the rights, obligations, and limitations of the sole member. The Agreement also covers the treatment of liabilities, indemnification, and the handling of the Member\'s interests upon death or disability.

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What is single-member operating agreement?

A single-member operating agreement is a legal document that outlines the ownership and operating procedures for a limited liability company (LLC) with only one owner or member. It serves to formalize the structure and governance of the business.

Who is required to file single-member operating agreement?

Typically, a single-member operating agreement is not required to be filed with the state, but it is highly recommended for the LLC owner to create and maintain one for internal record-keeping and to protect their limited liability status.

How to fill out single-member operating agreement?

To fill out a single-member operating agreement, the owner should include their name and address, the LLC name, the purpose of the business, management structure, and details regarding the handling of profits, losses, and distributions. Templates can guide the process.

What is the purpose of single-member operating agreement?

The purpose of a single-member operating agreement is to establish a clear understanding of the LLC's operations, ensure compliance with state laws, protect the owner's personal liability, and provide a documented framework for management and decision-making.

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

The information that must be reported on a single-member operating agreement typically includes the LLC's name, the owner's name, business address, purpose of the business, management structure, and financial arrangements including profit sharing, and procedures for dissolution.

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