An Arizona single-member LLC operating agreement is a vital legal document for a sole proprietor’s company. Though not required by the state, it protects the business and its owner from potential litigation. By completing this form, the member’s assets are legally separate from the business assets, safeguarding them from legal actions against the company.
This document outlines company policies, manages investment funds, assigns the member’s interest, and more. The single member should thoroughly review it before completion. If they need help understanding terms or aspects of the document, they may consult a knowledgeable attorney for assistance.
Step 1: Company Name
In the provided blank space, enter the full legal name of your Arizona LLC. This name is vital for identifying your business legally and for tax purposes.
For example, if your LLC is called “Mike’s Landscaping, LLC,” you would write that in the space provided.
Step 2: Company Information
Write the date you’re signing the Operating Agreement in the blank space, setting the official start date.
For example, if signing on June 15, 2023, enter “June 15, 2023” or “15th day of June 2023.”
Step 3: Member and Company Information
Next, fill in the LLC’s full legal name and your name as the sole member, clarifying responsibility for company operations and decision-making while accurately reflecting the relationship between the company and its member.
Enter the LLC name you provided previously and if your name is Mike Wilson, then include that.
Step 4: Formation Date
First enter the full legal name of your LLC. Then record the date the Articles of Organization were filed with the State of Arizona, marking your LLC’s official establishment.
If filed on April 1, 2023, write “April 1, 2023” or “1st day of April 2023.”
Step 5: Purposes of the Company
In the blank, briefly describe the LLC’s main activities or services. Describing the company’s purpose defines its central activities and objectives.
For instance, write “To provide landscaping services including lawn mowing, planting, irrigation, and landscape design for residential and commercial clients.”
Step 6: Authority
Write your name in the blank space, indicating that you, as the sole member, hold the authority and power to act on the company’s behalf. This clarifies who is responsible for making decisions and performing for the LLC, ensuring that the Agreement accurately reflects your role as the sole decision-maker.
Write your name “Mike Wilson” in the blank space, indicating that you, as the sole member, hold the authority and power to act on the company’s behalf.
Step 7: Company Name
Provide the name of your LLC one more time. Re-stating the company name links back to the identified legal entity.
Continuing with our example, write one more time “Mike’s Landscaping, LLC”.
Step 8: Managing Member’s Signature
As the sole member of the LLC, you will sign on the line provided, indicating your Agreement to the terms outlined in the Operating Agreement. This signature helps formalize the Agreement and demonstrates your commitment to operating the business according to the rules.
“Mike Wilson” will sign his name in this line.
Step 9: Managing Member’s Name
Print your full name below the signature line to identify you as the person who has signed the Operating Agreement. This ensures clarity regarding who the managing member is and provides a clear record of your involvement in the LLC.
“Mike Wilson” will print his name here.
Conclusion
In summary, properly filling out a Single-Member LLC Operating Agreement for an Arizona-based company is crucial for safeguarding your business and personal assets. By following this guide, you can confidently establish your LLC’s foundation, ensuring it operates professionally and adheres to appropriate regulations.
