A Wyoming single-member LLC operating agreement is used by the sole owner of a limited liability company to establish its internal policies, liabilities, ownership, and management. It enumerates the rights and obligations of the owner and managers in relation to the company, offering legal protection for any private assets in the face of company bankruptcy or liabilities. Although an operating agreement is not required in Wyoming, it may be required by financial institutions when applying for a loan or obtaining insurance. It is highly recommended that the document is signed and dated with notary acknowledgment.