The Idaho LLC agreement sets the the bylaws, day-to-day operations, and ownership interest among other details that may be entered by the member, also known as the owner. The single member agreement will mainly outline the information on file with the Idaho Secretary of State and the standard business information as there is only one (1) owner. Therefore, ownership interests and distributions do not need to be outlines or followed as strictly as a multi-member agreement.
The single member operating agreement’s main function is to protect the entity’s status and to prove to any outside party that all liabilities and assets are contained to the LLC.
How to Write
The eleven (11) page agreement may be filled in by opening the document in PDF format and looking for the highlighted fields. Each of the blanks should be filled with the following information:
- Date of Operating Agreement
- Name of LLC
- Primary Business Use
- Place of Business – Also known as the Principal Office Address
- Registered Agent Information – Name and Address
- Capital Contributions
- Ownership Interest