Updated November 23, 2021
A Maine single-member LLC operating agreement is a legally binding document that would be completed, notarized, and submitted to the state in order that a sole proprietor may establish various procedures, policies and prepare daily activity reports pertaining to the business operation. The document is not only for setting forth policies but will also benefit the owner by the creation of separation of the owner’s assets from those of their business. The owner shall also experience tax benefits as a result of the implementation of the document.
The owner should review the document to ensure that they have a clear understanding of the document. If the owner should experience any difficulty, they may choose to select a knowledgeable attorney for consultation and assistance.