An operating agreement of a limited liability company having only one (1) member shall not be unenforceable by reason of there being only one (1) person who is a party to the operating agreement. A limited liability company is bound by its operating agreement whether or not the limited liability company executes the operating agreement. A limited liability company is not required to execute its operating agreement. A member or manager of a limited liability company or an assignee of a financial interest is bound by the operating agreement whether or not the member or manager or assignee executes the operating agreement. “Operating agreement” or “limited liability company agreement” means any agreement, whether referred to as a limited liability company agreement or otherwise, written, oral or implied, of the member or members as to the affairs of a limited liability company and the conduct of its business. § 79-29-123 (Operating agreement – General standards of conduct and construction and application of certificate of formation and operating agreement scope, function, and limitations).Revised Mississippi Limited Liability Company Act – Title 79, Chapter 29.You may apply for an EIN by Mail or Online. The number is issued by the Internal Revenue Service for the purpose of reporting tax information, used in a similar manner as a Social Security Number. Most LLC owners will need to obtain an Employer Identification Number (EIN) after completing their filing. Step 6 – Employer Identification Number (EIN) It is not required that the form be drafted, however, it is essential in providing proof of each member’s financial interest in the company. Step 5 – Operating AgreementĪn LLC operating agreement is an official document used to establish rules, regulations, and otherwise govern the overall structure by which the LLC shall operate. You will be required to supply a filing fee upon completion of your online application. A Domestic LLC costs $50 while a Foreign LLC has an increased fee of $250.
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