Updated on October 25th, 2021
An Alaska single-member LLC operating agreement is a form used by an individual business owner to outline both basic and in-depth details of a limited liability company. While the agreement is not mandatory in the state of Alaska, LLCs are strongly encouraged to draft one prior to or after the entity has been registered with the Division of Corporations.
The form is designed in such a way to ensure the LLC takes the brunt of any lawsuits and other legal issues. With these provisions in place, the owner is essentially shielded from having a lawsuit filed against them directly. A few of the key points covered in the form include:
- The legal name of the company;
- When the company was formed;
- The company’s purpose;
- The rights and powers of the owner;
- When distributions can be taken; and
- Tax and bookkeeping rules.