A Vermont single-member LLC operating agreement is a legal document typically implemented after the formation of a limited liability company with one owner. The agreement enables the owner to outline the internal operations of the business, enumerate the rights and duties of the owner and managers, and legally separate any personal property from business obligations in the event of bankruptcy or legal claims. While implementing an operating agreement is not required in Vermont, it is highly recommended. Banks and potential investors may request a copy of the document to determine the credibility of the business.