A New Mexico single-member LLC operating agreement is a vital legal document drafted by the sole owner to define the company’s policies, operations, and limited liability. This agreement delineates ownership, management, profit distributions, general rules, and dissolution procedures, safeguarding the owner’s personal assets from business liabilities.
Although not legally mandatory, this document is crucial for demonstrating company ownership, opening bank accounts, or securing financial support. Additionally, it offers tax advantages and legally distinguishes the owner’s personal assets from the business, protecting them from being used to settle business debts.
Statute: New Mexico Limited Liability Companies.