• October 2018
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Does an LLC with One Member Need an Operating Agreement?

It’s important that you mentioned your LLC was formed in NY because they have special requirements for LLC.

Unlike other states, New York’s law requires LLC members (you) to adopt a written operating agreement. It can be executed before, at the time of, or within 3 months of filing your Articles of Organization.

Even if it’s only you involved with the business, you should ideally sit with a lawyer and draft up the rights, duties, liabilities, obligations etc… set forth to the LLC.

Keep in mind that you don’t have to file this with the Department of State as it is meant to be kept internally.

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