Single-Member LLC Operating Agreement
This Operating Agreement is entered into and effective as of January 15, 2056, by [YOUR NAME], the sole member of [YOUR COMPANY NAME], a Single-Member Limited Liability Company organized under the laws of the State of [State].
1. Formation
The Member has formed a Single-Member Limited Liability Company under the name [YOUR COMPANY NAME] pursuant to the laws of the State of Alabama. The Articles of Organization have been filed with the appropriate state authority.
1.1 Principal Office
The principal office of the LLC shall be located at [YOUR COMPANY ADDRESS], or such other place as may be designated by the Member.
2. Purposes and Powers
The purpose of the LLC is to engage in any lawful act or activity for which limited liability companies may be organized under the laws of the State of Alabama.
2.1 General Powers
The LLC shall have all the powers necessary or convenient to carry out its business and affairs, including but not limited to the following:
Enter into contracts and agreements.
Acquire, own, manage, develop, improve, and dispose of property.
Borrow money and issue notes or other obligations.
Hire and terminate employees.
3. Management
The LLC shall be managed by the Member. The Member shall have full and complete authority, power, and discretion to manage and control the business, affairs, and properties of the LLC.
3.1 Member's Authority
The Member is authorized on behalf of the LLC to make all decisions and take all actions necessary or appropriate to carry on the business and operations of the LLC.
4. Fiscal Matters
4.1 Fiscal Year
The fiscal year of the LLC shall end on December 31st of each year.
4.2 Banking
The LLC shall maintain its funds in a separate bank account in the name of the LLC. All deposits and withdrawals shall be made in the regular course of business and in accordance with the policies established by the Member.
Description | Details |
|---|
Bank Name | Grey Bank |
Account Number | 123456789 |
5. Indemnification and Liability
The Member shall not be liable, responsible, or accountable to the LLC or the other members of the LLC, if any, except as otherwise provided by law, for any act, omission, or error in judgment that is not the result of gross negligence or willful misconduct.
6. Miscellaneous
6.1 Amendments
This Operating Agreement may only be amended by a written agreement signed by the Member.
6.2 Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Alabama.
IN WITNESS WHEREOF, the undersigned, being the Member of the LLC, has executed this Operating Agreement as of the date first above written.
[YOUR NAME], [YOUR COMPANY NAME]
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