A New Mexico single-member LLC operating agreement is a document that the sole owner of an LLC drafts and executes to establish their company’s policies and operations. The completed document will relay the terms of the limited liability company’s ownership, management, distributions, general rules, and dissolution. Although LLCs aren’t legally required to create an operating agreement, the document is necessary to protect the owner from personal liability. Furthermore, an agreement may be needed as proof of company ownership when the owner wishes to set up company bank accounts or acquire financial support.