Does a Single-member LLC Need an Operating Agreement?
Does a Single-member LLC Need an Operating Agreement? Thursday September 4, 2008#spacer{clear:left}#abc #sidebar{margin-top:1.5em}zSB(3,3) If you have been following my posts on helping my sister set up her antiques/collectibles business, you may remember that I suggested she set up the business as an limited liability company (LLC), rather than a sole proprietorship. Since she is the only person involved in the business, she would be a single-member LLC. I got to thinking about this, and wondered if she should prepare an operating agreement for her LLC, even though she is the only member. I did some checking (online, of course, and with my attor
#spacer{clear:left}#abc #sidebar{margin-top:1.5em}zSB(3,3) If you have been following my posts on helping my sister set up her antiques/collectibles business, you may remember that I suggested she set up the business as an limited liability company (LLC), rather than a sole proprietorship. Since she is the only person involved in the business, she would be a single-member LLC. I got to thinking about this, and wondered if she should prepare an operating agreement for her LLC, even though she is the only member. I did some checking (online, of course, and with my attorney) and I decided that she should set up an Operating Agreement. The biggest re
