Updated on November 3rd, 2021
A Hawaii single-member LLC operating agreement is used for defining a single-member limited liability company’s structure and policies, including those used to protect the owner from financial and legal liability. The document may also be necessary when opening accounts with financial institutions or dealing with investors.
Operating agreements are not a mandatory document for LLCs; however, they will allow the owner to choose how the companies affairs and activities will be governed rather than being bound to the state’s default guidelines. It is recommended that owners of a single-member LLC create an operating agreement soon after registering the business with the Secretary of State.