Updated November 23, 2021
A Maryland single-member LLC operating agreement is a legal document that would be acquired and completed by a sole owner of a business. The document will assist the owner in establishing the procedures and policies needed to run a stable business as a sole proprietor. Although the state will not require any business to implement the document, any business owner should carefully consider the consequences of the choice to bypass this step in the process. This document will protect an owner by creating a separation between the owner and the business debts properly. In turn, the owner’s assets and financial accounts will remain untouchable, should they ever face any type of litigation that may present itself.
The document should be carefully reviewed by the owner for clarity of language. If the owner isn’t entirely clear with regard to any portion of the form, it may be in their best interest to consult with an attorney for advice and/or assistance with the implementation of the document.