A Single-Member LLC means that the company is owned by only one person and their business is registered to a particular state. Different states can request a slightly different set of documents, known as 'Articles of Organization'. The company owner, sometimes also referred to as a company member, will not be hold personal responsibility should the company experience debt issues or any other problems. An exception to this is when a member involves themselves in illegal activities for example, fraud.
The big bonus of such contracts lies with the fact that they are recognized as genuine, registered with a state. In order to make this official, the owner must legally obtain this status by signing a Single Member LLC Operating Agreement.
An Operating Agreement for a Single Member LLC confirms that the entity is not related to the personal assets of the owner.
A Single Member LLC Operating Agreement template can be downloaded by clicking the link below.
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