An Arizona single-member LLC operating agreement delineates the operational and managerial framework for a limited liability company with only one owner, commonly referred to as a member. While not legally required by the state, having an operating agreement is highly advisable as it protects the interests of the business and its owner.
The document establishes the member’s rights and responsibilities, the objectives of the company, and decision-making policies. It may include protocols for adding additional members in the future or procedures for transferring ownership interests. Once signed, this agreement is not required to be submitted to any state agency; instead, it should be kept at the registered office of the company.
Legal Considerations
Statute: Title 29, Chapter 7 – Arizona Limited Liability Company Act.
