An Ohio single-member LLC operating agreementis a critical legal document for a sole business owner. It details the company’s policies, procedures, and other operational aspects, offering a tailored structure to suit the owner’s specific needs. This agreement is crucial in safeguarding the owner’s personal financial assets against legal claims directed at the company, as it ensures a separation between personal and business assets.
Absence of such an agreement subjects the LLC to state laws, which may not favor the owner’s interests. Additionally, this document often serves as proof of ownership, essential for business activities like opening bank accounts, and effectively protects the owner from liabilities.
