Updated on November 3rd, 2021
A Maine single-member LLC operating agreement is created for limited liability companies comprised of a sole owner to establish company regulations, structure, and operations. The form will present a complete overview of the LLC’s various components, ensuring that the owner has a written record of how their company will operate if requested by investors or lenders. Having an operating agreement also separates the LLC from the owner, setting forth the provisions necessary to transfer legal liability to the company in preparation for potential litigation.
An LLC can be formed without an operating agreement, although the owner will be conducting business with a decreased level of legal protection.