A Rhode Island single-member LLC operating agreement is used by a limited liability company with one owner to outline the internal operations and specs of the business, such as ownership, management, membership, and more. The document is not required by the state of Rhode Island. However, without an operating agreement in place, the owner’s personal assets and financial accounts would be at risk if the company faces bankruptcy or litigation. In addition, the company would be subject to the default state laws governing LLC operations without being able to determine its own liability and indemnification provisions. The document should be timestamped and notarized at the time of signing.