A Connecticut single-member LLC operating agreement functions as a vital blueprint for the internal operations and governance of a limited liability company owned by a single individual. Although not legally required by the state, having an effectively drafted agreement in place can unlock tax benefits that the sole member wouldn’t otherwise be able to claim.
Additionally, it provides evidence to money lenders of the company’s legitimacy, often necessary for securing loans or lines of credit. By doing so, the sole member can safeguard their personal assets in bankruptcy, liquidation, or legal actions against the entity.
Legal Considerations
Statute: Chapter 613a – Uniform Limited Liability Company Act.
