A Hawaii single-member LLC operating agreement establishes the operational structure and protocols for a company owned by a single person. Additionally, it delineates the separation between personal and business assets, maintaining limited liability protection. While not mandated by state law, not having an agreement in place could leave the owner vulnerable to personal asset seizure in the event of business failure or legal action.
Legal Considerations
Statute: Title 32A, Chapter 428 – Uniform Limited Liability Company Act.
