A Connecticut single-member LLC operating agreement offers legal protection and tax benefits to a sole proprietor. While not required by the state, it safeguards personal assets during litigation or bankruptcy. It’s advised for businesses of all sizes to complete, file, and keep this document readily available. If unsure about any part of the agreement, consult an attorney for clarification.
Step 1: Company Name
In the designated space, input the full name of the Limited Liability Company (LLC) being established, ensuring that it is unique and does not infringe on any existing company names. This name is crucial for identifying your LLC in legal documentation and agreements.
For example, if your company focuses on landscaping services, you could choose a name like “Green Oaks Landscaping, LLC.”
Step 2: Date
In the following field, indicate the date when the operating agreement is signed and becomes effective. This date marks the formalization of the contract and sets the roles and responsibilities outlined within it.
For example, if signed on May 15, 2023, write “May 15, 2023.”
Step 3: Company and Member Information
Consistently use the LLC’s name, as previously mentioned, throughout the document for clarity. Additionally, include the full legal name of the individual who serves as the sole member of the LLC. This person will be responsible for managing and operating the LLC and will be held liable for its legal obligations.
For instance, if the sole member’s name is “Jane Smith,” ensure that the complete name “Jane Smith” is provided.
Step 4: Formation Date
Fist enter the full legal name of your LLC and then specify the date when the LLC was officially formed by filing the Articles of Organization with the State of Connecticut. This event marks the legal inception of the LLC.
For example, if your LLC was formed on April 1, 2023, indicate “Green Oaks Landscaping, LLC on April 1, 2023.”
Step 5: Purpose of the Company
In this section, describe the primary purpose or business activity that the LLC will engage in. The description should be specific enough to convey the LLC’s main focus clearly.
For example, state “To provide landscaping services, including lawn care, planting, and garden design, for residential and commercial clients.”
Step 6: Authority
In the provided space, reaffirm the full legal name of the individual with the authority to act on behalf of the LLC. This person will have the power to make decisions, sign contracts, and incur expenses for the company.
For our example, write “Jane Smith, as sole member of the Company, has sole authority and power to act for or on behalf of the Company.”
Step 7: Company Name
Write the name of your LLC one last time.
Write “Green Oaks Landscaping, LLC” at the end before signatures.
Step 8: Managing Member’s Signature
The sole member must sign their name in this section to formally accept the terms of the operating agreement and acknowledge their role as the managing member of the LLC.
Jane Smith would sign her name on the signature line.
Step 9: Managing Member’s Name
In the space provided, the sole member should print their full legal name legibly to ensure clarity and serve as a reference for future legal documents or inquiries regarding the LLC.
Jane Smith would print “Jane Smith” below the signature.
Conclusion
In summary, filling out a single-member LLC operating agreement for a Connecticut-based company is essential for establishing the roles, responsibilities, and legal boundaries between the LLC and its member. By providing the necessary information and signing the document, the sole member formalizes their commitment to managing the company in compliance with the terms of the agreement.
