A Utah single-member LLC operating agreement is a document for a sole owner to describe their limited liability company’s governance and operational framework. They use this document to detail capital contributions, the allocation of profits and losses, indemnification, and dissolution procedures.
Even though Utah doesn’t require this document for LLC owners, it’s still useful for them to complete it. It helps them distinguish their personal and business finances, allowing them to open business accounts and engage in relations while keeping their personal assets and liabilities separate.
Legal Considerations
Statute: Title 48, Chapter 3a – Utah Revised Uniform Limited Liability Company Act.
