Updated November 23, 2021
An Oregon single-member LLC operating agreement is a legal document that is specifically designed for use by a sole owner or member. The document will guide the owner through the process of forming the policies and procedures of their company.
The State doesn’t require that any owner complete and maintains the document in order to do business in the State. The owner should seriously consider implementing the document to create the proper protection needed for any business owner. Without the placement of the form, the owner could place their assets and personal financial accounts at risk, should the business face any litigation, bankruptcy, or business failure, whereas, with the document in place, the owner may prove their separation between the individual and the company.
Laws – ORS 63.431(2)