The New Mexico single-member LLC operating agreement is an indispensable legal document that assists sole proprietors in outlining company procedures, policies, and liability restrictions. By segregating personal and business assets, the owner can avert the necessity to liquidate personal assets for claims and obtain tax benefits otherwise unavailable without the agreement.
Carefully fill in the name of your LLC, ensuring it is not unique and representative of your business but also adheres to state naming requirements.
For instance, if you are starting a coffee shop that offers a relaxing atmosphere and exceptional coffee beverages, you might consider naming it “Aromatic Brews, LLC.”
Accurately enter the date when this operating agreement is executed and signed by the parties involved. This date helps establish a clear and specific timeline for the agreement’s validity and becomes a point of reference for future amendments or modifications.
For example, if you’re signing the agreement on April 22, 2023, make sure to write “April 22, 2023.”
In the next designated spaces, fill in the name of your LLC and the name of the sole member (yourself) executing the agreement. This essential information identifies the parties involved in the contract and highlights their respective roles within the LLC.
Suppose your name is Lisa Johnson, and your LLC is “Aromatic Brews, LLC.” In that case, you should write “Aromatic Brews, LLC” and “Lisa Johnson” in the appropriate spaces, emphasizing the connection between you and the company.
In this section, provide detailed information about the formation of your LLC, including the name of your LLC and the exact date the Articles of Organization were filed. This information serves as a formal record documenting the formation of the LLC and its legal standing.
For example, if you filed the Articles for “Aromatic Brews, LLC” on February 1, 2023, write “Aromatic Brews, LLC” and “February 1, 2023” in the corresponding spaces, showcasing the company’s inception date.
Thoroughly outline the purpose(s) of your LLC and the powers it possesses by providing a specific and detailed description of your LLC’s intended business activities. Suppose your LLC primarily aims to offer a unique coffee experience and sell coffee-related merchandise.
In that case, you might write, “To provide exceptional coffee beverages in a warm and welcoming café environment while also offering a curated selection of high-quality coffee-related merchandise to cater to the diverse needs of our customers.”
Explicitly include your name in this section, affirming your authority as the sole member of the LLC. This acknowledgment establishes that you hold the exclusive power to make decisions and take actions on behalf of the company, highlighting your responsibility for the company’s success.
If your name is Lisa Johnson, write, “Lisa Johnson, as the sole member of the Company, possesses the sole authority and power to act for or on behalf of the Company in all matters, including decision-making and incurring expenditures on behalf of the Company.”
At the end of the document, sign and print your name, confirming your agreement to the terms and conditions outlined in the Sole Member Operating Agreement. This signature is legally binding and signifies your commitment to abide by the agreement and adhere to the applicable laws and regulations governing your LLC.
If your name is Lisa Johnson, sign the document and print “Lisa Johnson” underneath the signature, showcasing your agreement with the terms in the document.
In closing, the process of filling out a single-member LLC operating agreement for your New Mexico-based company may seem complex, but we hope that this guide has clarified each step and made the process more manageable. We trust that you’ll find success in your business journey and continue to grow and prosper.