Updated May 08, 2022
A Connecticut single-member LLC operating agreement is a legal document that is used by a sole proprietor to create an agreement between the owner of a business and the entity itself. This is a document that will provide the same protections to a sole proprietor that it would offer a larger company with more than one member. The sole member will have the ability to protect their personal assets from those of the business and have the ability to access available tax benefits.
The state of Connecticut does not require that businesses complete this form. However, without the document, if the member finds at any point that they are facing litigation or bankruptcy, their personal assets would be vulnerable in an attempt to collect a debt or fulfill a legal claim. It’s highly recommended that all businesses of all sizes complete and file this document with their respective state and have a copy on file and available at all times. The member may read the entire document before completion and filing. If the member is unclear with regard to any portion of the document, they may wish to contact an attorney to ensure that they are clear with what they’re signing.