Single-Owner LLC with Opportunity for Additional Owners Operating Agreement
This is a template for an operating agreement for a single-member limited liability company (“LLC”) that leaves open the possibility of taking on additional owners (also known as “members” or “owners”). It is a basic operating agreement for a small business with one owner, that may expand to include additional owners, and it contemplates that all the business’s owners will be involved in management and oversight.
If you have an LLC, you should have an operating agreement. This document helps you establish the business as separate from yourself for liability purposes. It also makes clear the 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.