A Maryland single-member LLC operating agreement is a legal document used by the sole founder of a newly created limited liability company to set in place the policies and structure of their business. Drafting an operating agreement provides the owner with a document that can be presented to potential investors or financial institutions when acquiring loans.
A Maryland single-member LLC operating agreement is a legal document used by the sole founder of a newly created limited liability company to set in place the policies and structure of their business. Drafting an operating agreement provides the owner with a document that can be presented to potential investors or financial institutions when acquiring loans.
An operating agreement will also allow the owner to have a document proving that the company is a separate entity from themselves, indemnifying them from certain legal and financial liability.
An operating agreement is typically created after the company’s formation, although it is not a state requirement.
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