The Kentucky single-member limited liability company operating agreement often proves to be an indispensable contract to a well-maintained company. This is a voluntary contract since it is not required by Kentucky law however, it does act to establish the date the sole member’s declared intended procedures, goals, tax status, and other characteristics to paper. Many consider this a necessary precaution for any company and its sole member since such an agreement between these parties would also list the protections afforded to the sole member’s personal property and assets.
Kentucky LLCs without a signed and notarized operating agreement in place may find it difficult to secure such services as loans or open a company account with a financial institution since financial institutions often wish to see the operating agreement in place. Kentucky LLC sole members should strongly consider executing an agreement for their company as well as hold a consultation with a qualified industry professional or an attorney when doing so
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NorthwestRegisteredAgent.com Version
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