An Oklahoma single-member LLC operating agreement, while not mandatory by state law, serves as a vital internal document for the sole proprietor of an LLC. It delineates the business’s operations, affirms ownership, and creates a necessary distinction between the owner’s personal and business assets.
This agreement safeguards the owner’s personal assets from legal claims against the company and is often required by third parties to verify the company’s legitimacy. Additionally, it outlines procedures for eventualities like the sale or dissolution of the business. Though not filed with the state, its completion is crucial for liability protection and operational clarity.
Statute: Oklahoma Limited Liability Company Act.