Updated November 22, 2021
An Indiana single-member LLC operating agreement is a legal document that has been designed for use by a sole proprietor. The document would be provided so that the sole owner may establish company ownership along with business establishment-specific procedures and policies and more.
The state of Indiana does not require that any business implement this document, simply to operate within the state. However, if the member decides against completing and filing the document, the owner could discover that their personal assets and financial accounts, would be vulnerable, should the business fail or if the owner should be faced with any type of litigation. If the document is implemented, the owner’s assets would be separated from the business and would not be completely liable for the debts of the company.