A Wyoming single-member LLC operating agreement is a legal document used by a sole proprietor to set standard procedures, policies, and protect their personal assets. Although not required by the state, its absence can lead to personal liability in case of business failure or litigation. Thus, implementing this agreement is vital for safeguarding the owner’s interests.
Step 1: Sole Member Operating Agreement
This is the title of your legal document that outlines how your single-member LLC will be structured and managed. Filling in your LLC’s name here establishes the subject of the agreement and sets the stage for the rest of the document.
Sunshine Consulting LLC Operating Agreement
Step 2: Company and Member Information
Here, you’ll input the date of your agreement. This helps to clarify when the terms of the agreement start to apply.
Next include the name of the LLC and your name. It’s essential to include “LLC” in the name to indicate that your business is a limited liability company. This name should match the one you’ve registered with the state of Wyoming.
This operating agreement is entered into on March 1, 2023 by Lucy Hart and Sunshine Consulting LLC.
Step 3: Company and Member
In these blanks, insert the name of your LLC and your name (as the sole member), respectively. This establishes who the parties involved in the agreement are.
Sunshine Consulting LLC and Lucy Hart
Step 4: Formation of LLC
Fill in your LLC’s name again and the date when you filed the Articles of Organization with the state of Wyoming. This helps to confirm the legal establishment of your company.
Sunshine Consulting LLC was formed upon filing Articles of Organization with the Wyoming Secretary of State on January 15, 2023.
Step 5: Purpose of the Company
Describe the primary business activities or services that your LLC will engage in. Providing a clear purpose ensures that everyone understands the company’s intended operations.
The purpose of Sunshine Consulting LLC is to provide business consulting services to clients including strategic planning, marketing, and HR services.
Step 6: Rights, Powers, and Obligations of Member
In the blank space provided for Authority, you should fill in the full name of the individual who is the sole member of the Company. This person will have the exclusive authority and power to act for or on behalf of the Company, perform any actions that would be binding on the Company, or incur any expenditures on behalf of the Company. By filling in this section, you are establishing who holds the decision-making authority within the LLC.
Lucy Hart has full authority and responsibility for managing the business affairs of Sunshine Consulting LLC as its sole member.
Step 7: Member’s Signature
Write the name of your LLC once again. Next sign and print your name to confirm your agreement with the terms outlined in the document.
Signature: Lucy Hart Print Name: Lucy Hart
Conclusion
Following these key steps and examples will ensure your Wyoming single-member LLC operating agreement contains all the necessary sections, from outlining the company details to granting you full authority as sole member. Be sure to properly execute the document with your signature to make it fully legally binding and protect your interests.
