A Maine single-member LLC operating agreement is a legal document that outlines the policies, procedures, and daily activities of a sole proprietor’s business operation. This document sets policies and separates the owner’s personal and business assets, providing tax benefits. It is essential for the owner to review and understand the document thoroughly.
An operating agreement provides a comprehensive overview of the LLC’s components and separates the owner from the company, transferring legal liability to the company in preparation for potential litigation. Without one, the owner will have reduced legal protection while conducting business.
