Are Operating Agreements Mandatory for LLCs?

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Question:

I thought every LLC had to have an Operating Agreement. I told a guy this morning that we couldn’t open an account for his sole member LLC until he gave us a copy of an operating agreement. Problem?

Answer:

If he is the sole member of his LLC and he is the manager, an operating agreement would make no sense and requiring one is silly because an operating agreement merely spells out who has what power and what the limits are. As the manager of his own sole member LLC, he can do whatever the law allows.
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