Our LLC operating agreement template is expertly crafted by legal professionals to ensure that your business is fully compliant with state regulations and protected from legal liability, giving you peace of mind and security as you grow your enterprise.
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An Iowa single-member LLC operating agreement is an essential document for sole proprietors looking to define company ownership and establish specific policies. Though not legally required in Iowa, having an operating agreement in place can safeguard your personal assets from business liabilities and offer tax advantages. Without it, your assets may be at risk in case of litigation or business failure.
Choose a unique name for your LLC and fill it in this field. For instance, if you plan to open a bakery in Iowa, you might name it "SugarSprinkle Bakery, LLC."
Enter the date you're signing the agreement in this field. For example, if you sign it on April 1, 2023, you would write "April 1, 2023." Then, write your company name and your name in the designated fields as the sole Member. In our example, you would write "SugarSprinkle Bakery, LLC" for the company and "Jane Doe" as the Member.
First write the full legal name of your LLC and then put the date you filed the Articles of Organization with the State of Iowa. If you filed them on January 15, 2023, you would write "January 15, 2023."
Under this section describe the primary purpose of your LLC. In our example, you would write, "To operate a bakery that produces and sells high-quality baked goods, including bread, pastries, and custom cakes."
For this field, write your name, as you're the sole Member with the power to act on the Company's behalf. In this case, you would write "Jane Doe."
At the end of the document, sign your name and print it below the signature line. For example, you would sign as "Jane Doe" and print "Jane Doe" underneath.
Using the example above, here is how the Single Member LLC Operating Agreement would look:
SOLE MEMBER OPERATING AGREEMENT
SugarSprinkle Bakery, LLC
An Iowa Limited Liability Company
THIS OPERATING AGREEMENT ("Agreement") is made and entered into as of April 1, 2023, by and among SugarSprinkle Bakery, LLC, an Iowa Limited Liability Company (the "Company"), and Jane Doe, executing this Agreement as the sole Member of the Company (the "Member") and hereby states as follows:
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, it is agreed as follows:
Formation of LLC.
The Member has formed an Iowa Limited Liability Company named SugarSprinkle Bakery, LLC by filing the Articles of Organization with the office in the State of Iowa on January 15, 2023. The operation of the Company shall be governed by the terms of this Agreement and the applicable laws of the State of Iowa relating to the formation, operation, and taxation of an LLC, specifically the provisions under Chapter 489 (Revised Uniform Limited Liability Company Act) which set out the guidelines and procedures for the formation and operation of an LLC hereinafter collectively referred to as the "Statutes." To the extent permitted by the Statutes, the terms and provisions of this Agreement shall control in the event there is a conflict between the Statutes and this Agreement.
Purposes and Powers.
a) The purposes of the Company shall be:
(i) To operate a bakery that produces and sells high-quality baked goods, including bread, pastries, and custom cakes; and
(ii) To perform or engage in any and all activities and/or businesses for which limited liability companies may be engaged under the Statutes.
Jane Doe, as the sole Member of the Company, has the authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company, or incur any expenditures on behalf of the Company.
IN WITNESS WHEREOF, the Member has hereunto set such Member's hand as of the day and year first above written.
SugarSprinkle Bakery, LLC
Managing Member's Signature: __________________________________________
Print Name: Jane Doe
In the end, having a single-member LLC operating agreement for an Iowa-based company is super important to keep personal assets safe, get tax perks, and have a solid legal setup for the business. By carefully filling out the document, the owner is all set for a smooth and successful business journey.