Updated November 23, 2021
A Mississippi single-member LLC operating agreement is a legal document for establishing a limited liability company’s internal operations and ownership for an LLC owned by just one person. The owner should use this agreement to state the rights and duties of managers and the rights and duties of the owner, such as the sole right to act on the company’s behalf. Use the agreement to separate the owner’s personal assets from business debts as well. It is not legally required in Mississippi for an owner of an LLC to create an operating agreement, although, it’s highly recommended to create and have on file. The operating agreement is the only document that outlines the ownership of the company.