A Georgia single-member LLC operating agreement addresses unique considerations relevant to sole ownership structures. This legal document defines the member’s rights and obligations, capital contributions, profit distribution, and dissolution procedures. While not mandatory under state law, this agreement is highly recommended as it helps protect personal assets and solidify the entity’s legitimacy.
Additionally, the agreement may detail strategies for maintaining limited liability protection, such as observing corporate formalities and clearly distinguishing between personal and business assets. Furthermore, the document can include dispute resolution mechanisms and define procedures for resolving conflicts internally or through alternative dispute resolution.