A Single Member Operating Agreement (also known as a SMOA or LLC Operating Agreement) is an official document that outlines the procedures, responsibilities and rights of members involved in a single-member limited liability company (LLC). This agreement outlines how the business will be managed, including decisions related to profits, losses, liabilities, management, and other aspects of the LLC. It also serves as a legal document to help protect the personal assets of the single member from any debts or obligations of the LLC. By creating a sound Single Member Operating Agreement, you can ensure that you are fully informed about all rights and responsibilities associated with running your business.