§ 48-2c-504. Operating agreement for a one-member company.

Latest version.

(1)	A written declaration or written guidelines signed by the sole member of a company constitutes an operating agreement for purposes of this chapter if the member designates in the declaration or guidelines that the written declaration or guidelines constitutes the operating agreement.

(2)	The operating agreement of a company having only one member shall not be unenforceable by reason of there being only one person who is a party to the agreement.

Enacted by Chapter 260, 2001 General Session

                    
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