Operating Agreement
(Member-Managed, Single Member) (OH LLC)

Summary

This operating agreement template is for a member-managed Ohio limited liability company (LLC) with a single member. This template includes practical guidance, drafting notes, and an alternate and option clause. Because the LLC has only one member, issues relating to voting, a tax matters member/partnership representative, and transfers are less prominent in this operating agreement than they would be in an operating agreement for a multiple-member entity. If an additional member or members are admitted, an amended and restated operating agreement should be prepared that addresses the issues that arise in a multiple-member LLC. For a discussion of limited liability companies in Ohio, see Formation and Qualification (OH LLC). For a checklist on formation of an LLC, see Formation Checklist (OH LLC).