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The single member LLC operating agreement for California is designated for a company with one owner. The reason to create an agreement is for protecting the entity status of the company. In other words, any court may take a look at an LLC’s records to see if in fact it is legally a separate entity and the operating agreement helps prove this point on behalf of the owner. This is why it is further recommended to elect having the agreement signed in front of a California notary public.
- From 17701.02(s)
(s) “Operating agreement” means the agreement, whether or not referred to as an operating agreement and whether oral, in a record, implied, or in any combination thereof, of all the members of a limited liability company, including a sole member, concerning the matters described in subdivision (a) of Section 17701.10. The term “operating agreement” may include, without more, an agreement of all members to organize a limited liability company pursuant to this title. An operating agreement of a limited liability company having only one member shall not be unenforceable by reason of there being only one person who is a party to the operating agreement. The term includes the agreement as amended or restated.
How to Write
If you need to find information about the company at the State level, you may search for your information at the Keplar Website. The following information should be included in your operating agreement in order for it to be certified;
- Formation Information – Incorporators, Principal Place of Business, Management
- Member – Ownership Interest, Member Powers, Selling of Interest
- Business Information – Primary Use, Fiscal Year, Duration, Officers
- Other – Everyday Activities, Insurance, Termination, Records and Inspection/Audit