A New Mexico single-member LLC operating agreement is an internal document used to formally declare the internal procedures, policies, management, and ownership of a limited liability company with a sole proprietor. While companies are legally allowed to operate in New Mexico without implementing an operating agreement, it can be extremely beneficial in a number of ways. In addition to outlining a unique set of internal rules for the company, the document also establishes the LLC as a legally separate entity from the owner. This means that, in the event of any litigation, bankruptcy, or other company liabilities, the owner’s personal assets can be protected from risk. Timestamping and notarizing the document is highly recommended to provide proof of authenticity.