There are numerous states in the US that permit single-member LLCs, and Missouri is one of them. The Missouri Limited Liability Company Act, which governs Missouri’s LLC laws, was passed in 1993 and has subsequently undergone numerous amendments.
An operating agreement is an essential document for every LLC, whether it has one member or many members, in this regard. It is a legal agreement that spells out how the business will be run, including each member’s rights and obligations. The operating agreement should outline the management of the LLC, distribution of earnings and losses, admission of new members, and eventual dissolution of the LLC.
Although operating agreements for LLCs are not required by Missouri law, it is strongly advised that they be in place. By demonstrating that the LLC is a distinct legal entity from its owners, operating agreements aid in protecting the limited liability status of the LLC.
Furthermore, single-member LLCs are legal in Missouri. This indicates that only one member, who owns all of the company’s ownership interests, is required to incorporate an LLC in Missouri. Single-member LLCs have a number of benefits, such as pass-through taxation, limited liability protection for the owner’s personal assets, and the opportunity to conduct business with few regulations.
Finally, Missouri does not require the notarization of LLC operating agreements. However, to assist avoid any issues over the legitimacy of the signatures, it is advised that you sign the operating agreement in front of a notary public.
Last but not least, single-member LLCs are permitted in Missouri, and it is strongly advised to have an operating agreement in place to safeguard the company’s limited liability status and specify how the LLC will be handled and administered. Although it is not necessary to have an operating agreement notarized, doing so in a notary’s presence is advised.