A Tennessee single-member LLC operating agreement is an essential document used by the single owner of a business to outline the internal operations and procedures of the company. In addition, this document legally separates the LLC from the owner, thereby protecting their personal assets and financial accounts in the event of any legal claims against the company, debts, or bankruptcy. Businesses are legally allowed to operate without an operating agreement in Tennessee; however, without one in place, the company would be subject to general state rules governing LLCs and their operations. Implementing an operating agreement can also bring more credibility to the company in the eyes of investors and financial institutions.