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Do single-member LLCs need an operating agreement? A singlemember LLC does not need to worry about disputes between members.An LLC Operating Agreement defines how your company is to be run. A Person shall cease to be a Member at such time as he no longer owns any Membership Interest. If an LLC has no operating agreement, it is subject to the "default rules" of the state in which the LLC is organized. No Member shall be entitled to the return of all or any part of his or her Capital Contribution, prior to the partial or total liquidation of the Company. The voting provisions should clearly outline the voting share of each member — it is usually, but not always, equal to the ownership interest of the member. Our Operating Agreement Template is included in our Pro and Premium plans. Voting rights are given to the members to help make decisions. Voting rights generally relate to the ownership percentage that a member has.
