Single-Owner LLC Operating Agreement

This is a template for an operating agreement for a single-member limited liability company (“LLC”). An operating agreement establishes the rights and responsibilities of the LLC and its members (i.e. owners). This agreement is a very simple operating agreement that should only be used by businesses that have one owner and do not expect to expand their ownership.

 

This doesn’t mean that ownership can’t expand, it is just that the agreement will need to be updated to add important details to accommodate additional members (e.g. details on the decision-making process with multiple members, adding and removing members, etc).

 

If you have an LLC, you should have an operating agreement. An operating agreement helps establish the business as an entity separate from yourself for liability purposes. It also helps to make sure you and the other owners are on the same page (if more than one owner), and to outline decision making and other important business processes. 

 

If your business falls under the definition of a restricted professional LLC in Pennsylvania, you should speak with an attorney about any additional edits that may be required.