Updated January 25, 2023
An Ohio single-member LLC operating agreement is a legal document that would be used by the single owner of a business, who would like to establish their policies, procedures, and other aspects of the company. This document is not a required step, to conduct business within the state. It’s highly recommended, however, that any business complete and file this document with the state, as, without the document in place, the owner could face the possibility of having to liquidate their personal, financial assets to satisfy legal claims that may be imposed against the company, should the courts find in favor of the plaintiff(s).
With the implementation of the document, the personal assets and financial accounts of the owner will be separate from the business and therefore protected from legal matters pertaining to the business.