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Virginia Single Member LLC Operating Agreement Form

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Virginia Single Member LLC Operating Agreement Form

Updated November 24, 2021

A Virginia single-member LLC operating agreement is a legal document, that once it’s completed will establish policies and regulations for the owner’s company, as well, it will separate the owner and their personal assets and financial accounts from those of the company. The state of Virginia does not require that the document be filed with the state, to conduct business.

If the document is not implemented and the company experiences any failures or bankruptcy, they may become personally liable to pay claimants, whereas, if the document is in place, although the company would remain liable, the owner would not be personally responsible. Filing of the document also provides beneficial tax advantages, as well.

Laws – § 13.1-1010