Kiritsis & Associates
By John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M
Kiritsis Law Group
212 922 0005
The adoption of a written operating agreement by a single-member limited liability company (SMLLC) is not required by law in all states, but it is highly recommended as it serves as a guide for the management and operation of the business. The operating agreement typically outlines the member's rights and responsibilities, tax treatment, and rules for decision-making and decision-making processes.
In states where it is not required by law, the default rules provided by the state's LLC statute will govern the SMLLC. However, if a written operating agreement has not been adopted, disputes may arise and it may be more difficult to determine the member's rights and responsibilities in specific circumstances. This may lead to unexpected legal and financial consequences, so it's generally best practice to have a written operating agreement in place.
New York Business Corporation Law
New York Limited Liability Company
New York General Obligations Law
NYS Office of Professions
Whether you are a new business startup or a well-established company, our law firm can help you with all of your business law legal needs. For a free consultation, you can call us at 212 922 0005.
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
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