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Limited Liability Company Operating Agreement Single Member

Limited Liability Company Operating Agreement Single Member for Singapore

Limited Liability Company Operating Agreement Single Member Template for Singapore

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Limited Liability Company Operating Agreement Single Member

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What is a Limited Liability Company Operating Agreement Single Member?

The Limited Liability Company Operating Agreement Single Member is essential for entrepreneurs establishing a single-member LLC in Singapore. This document provides the framework for company operations, protecting the owner's personal assets while establishing clear guidelines for business management. Under Singapore law, while not strictly required, this agreement is highly recommended as it clearly defines the relationship between the member and the company, establishes operating procedures, and can be crucial for maintaining the company's limited liability status. It typically includes provisions for capital contributions, profit distribution, management responsibilities, and succession planning.

What sections should be included in a Limited Liability Company Operating Agreement Single Member?

1. Parties: Identifies the member and the LLC entity

2. Background: Context of LLC formation and purpose

3. Definitions: Key terms used tHRoughout the agreement

4. Formation: Details of LLC formation and registration

5. Capital Contributions: Member's initial and subsequent capital contributions

6. Management: Company management structure and decision-making processes

7. Distributions: Rules for profit distribution and reinvestment

8. Tax Matters: Tax treatment and responsibilities

9. DisΊμΠΣΦ±²₯: Procedures for company disΊμΠΣΦ±²₯

What sections are optional to include in a Limited Liability Company Operating Agreement Single Member?

1. Additional Members: Procedures for admitting new members - use when future expansion is anticipated

2. Succession Planning: Provisions for transfer upon death/incapacity - use when long-term continuity is desired

3. Intellectual Property: IP ownership and protection - use when company owns significant IP

What schedules should be included in a Limited Liability Company Operating Agreement Single Member?

1. Schedule A - Initial Capital Contributions: Detailed breakdown of initial investments

2. Schedule B - Company Assets: List of company assets at formation

3. Appendix 1 - Management Procedures: Detailed operational procedures

4. Appendix 2 - Compliance Requirements: ACRA compliance checklist

Authors

Alex Denne

Head of Growth (Open Source Law) @ ΊμΠΣΦ±²₯ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Industries

Companies Act 1967: Primary legislation governing company formation, management, and governance in Singapore, including specific provisions for single-member companies (2020 Revised Edition)

Limited Liability Partnerships Act 2005: SecoNDAry reference legislation containing relevant principles for limited liability entities in Singapore

Companies (Model Constitutions) Regulations 2015: SecoNDAry legislation providing standard constitutional provisions that may be incorporated into company documents

ACRA Guidelines: Regulatory guidelines from Accounting and Corporate Regulatory Authority covering compliance requirements, registration and filing procedures for single-member companies

Company Structure Requirements: Legal requirements for organizational structure and management framework for single-member LLCs in Singapore

Capital Requirements: Statutory provisions regarding capital contributions and maintenance for Singapore LLCs

Profit Distribution Rules: Legal framework governing how profits can be distributed in single-member LLCs

Decision-Making Framework: Legal requirements for corporate decision-making processes in single-member LLCs

Membership Transfer Regulations: Legal provisions governing the transfer of membership interests in Singapore LLCs

DisΊμΠΣΦ±²₯ Procedures: Statutory requirements for company disΊμΠΣΦ±²₯ and winding up under Singapore law

Corporate Governance Requirements: mandatory corporate governance standards and best practices for Singapore companies

Record-Keeping Obligations: Statutory requirements for maintaining company records and financial statements under Singapore law

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, Β Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, Β Severance Pay, Governing Law, Entire Agreemen

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