Updated November 23, 2021
A Pennsylvania single-member LLC operating agreement is considered a legal document that would be used by entities who have a sole owner, who would like to set forth the policies and standard operating procedures needed to establish the business as well as the needed separation between the sole proprietor and the business.
There are no laws or statutes stating that this state requires the filing of the document to conduct business within the state but without the document’s filing of the document, the owner could be faced with the possibility of having to liquidate personal and financial assets to satisfy court findings on behalf of any plaintiff that would bring legal claims against the company, or creditors in the event of bankruptcy or any other type of failure in the business. Although the owner’s assets would remain protected, the business property will remain financially liable.