This Operating Agreement is for a Limited Liability Company with only one Member. This form may be perfect for an LLC started by one person. You make changes to fit your needs and add description of your business. Approximately 10 pages. It allows for eventual adding of new Members to LLC.
Operating Agreement For Single Member Llc Virginia Template
State:
Virginia
Control #:
VA-00LLC-2
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Virginia Single Member Limited Liability Company LLC Operating Agreement?
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FAQ
How to Form an LLC in Virginia (5 steps)Step 1 Nominate a Registered Agent.Step 2 Select LLC Type.Step 3 Pay the Filing Fee.Step 4 Operating Agreement.Step 5 Employer Identification Number (EIN)
It can secure your liability protection. This is crucial to understand, as it's the primary main reason that your single-member LLC needs an operating agreement. Even if an operating agreement isn't required in your state, running your company without an operating agreement could jeopardize your LLC status.
Get together with your co-owners and a lawyer, if you think you should (it's never a bad idea), and figure out what you want to cover in your agreement. Then, to create an LLC operating agreement yourself, all you need to do is answer a few simple questions and make sure everyone signs it to make it legal.
An operating agreement isn't mandatory, but it's a great idea to have one, even if your LLC only has one member and you'll be making all of the decisions. Having a written operating agreement lends credibility to your LLC.
Virginia does not require an operating agreement in order to form an LLC, but executing one is highly advisable.