Illinois Single-Member LLC Operating Agreement Form

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An Illinois single-member LLC operating agreement is a legal document that is created for a sole proprietor (single owner) to have the ability to establish policies, procedures, and ownership within the agreement between the owner and the document proper.

Because the state doesn’t require that businesses implement the document, does not mean that owners should not do so anyway. Without the document in place, the owner places at risk, all of their private financial and personal assets. This document will assist the owner in avoiding complete personal liability, inasmuch as the document will prove separation between the owner and the business debts. The document will also provide tax benefits that would not be available without the protections that this form will provide.