Updated November 23, 2021
A Minnesota single-member LLC operating agreement is for a limited liability company that has just one owner. The owner should use this agreement to establish the internal operations of the company as well as a number of business matters. These include separating his or her personal assets from the company’s debts, establishing the rights and duties of managers, designating who may act on the company’s behalf, tax treatment, and other issues. Although Minnesota law does not require LLC owners to create one of these agreements, they are strongly advised to do so.
Laws – § 322C.0111 (Subd. 3)