¶¶Òõ¶ÌÊÓƵ

All Countries
Risk Management
Sole Member Operating Agreement

Sole Member Operating Agreement Template for South Africa

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Sole Member Operating Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Sole Member Operating Agreement

"I need a Sole Member Operating Agreement for my new technology consulting company in South Africa, with specific provisions for intellectual property protection and potential future expansion to include additional members by March 2025."

Celebrated by
Collaborations with
Investors
Document background
The Sole Member Operating Agreement is a crucial document for entrepreneurs and business owners in South Africa who choose to operate their business as a private company with a single member. This document is typically prepared when establishing a new company or converting an existing business structure, and it must comply with the South African Companies Act 71 of 2008 and related legislation. The agreement serves multiple purposes: it outlines the company's management structure, details the sole member's rights and responsibilities, establishes operational procedures, and provides mechanisms for business continuity. It includes essential provisions for capital contributions, profit distributions, decision-making processes, and potential transfer of ownership, while also addressing compliance requirements specific to South African business law.
Suggested Sections

1. Parties: Identifies the sole member and the company as parties to the agreement

2. Background: Sets out the context of the agreement, including the company's formation and purpose

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules

4. Formation and Company Details: Specifies company name, registration details, and principal place of business

5. Purpose and Powers: Outlines the company's business purpose and powers

6. Capital Contribution: Details the sole member's initial and any subsequent capital contributions

7. Management and Control: Establishes management structure and decision-making processes

8. Meetings and Resolutions: Procedures for documenting company decisions and maintaining records

9. Financial Affairs: Covers accounting records, financial statements, and banking arrangements

10. Distributions: Rules governing profit distributions and drawings

11. Transfer Restrictions: Procedures for transferring membership interest and admission of new members

12. Dissolution and Liquidation: Processes for winding up the company and distributing assets

13. General Provisions: Standard clauses including notices, amendments, and governing law

Optional Sections

1. Intellectual Property: Provisions for IP ownership and protection, needed if the company develops or uses significant IP

2. Employment: Guidelines for hiring and managing employees, required if the company plans to have employees

3. Confidentiality: Detailed confidentiality provisions, important for businesses with trade secrets or sensitive information

4. Insurance: Requirements for business insurance coverage, recommended for higher-risk businesses

5. Dispute Resolution: Alternative dispute resolution procedures, useful for businesses wanting to avoid court proceedings

6. Compliance: Industry-specific compliance requirements, necessary for regulated industries

7. Succession Planning: Provisions for business continuation upon death or incapacity of the sole member

Suggested Schedules

1. Schedule 1: Company Details: Detailed company information including registration number, registered address, and tax numbers

2. Schedule 2: Initial Capital Contribution: Itemized list of initial capital contributions including valuations

3. Schedule 3: Business Plan: Initial business plan and operational framework

4. Schedule 4: Authorized Signatories: List of authorized signatories and their powers

5. Appendix A: Specimen Resolution Forms: Templates for written resolutions and meeting minutes

6. Appendix B: Financial Procedures: Detailed procedures for financial management and reporting

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions
































Clauses






























Relevant Industries

Professional Services

Retail

Technology

Manufacturing

Construction

Consulting

E-commerce

Healthcare

Real Estate

Agriculture

Financial Services

Education

Transportation

Hospitality

Relevant Teams

Legal

Corporate Governance

Finance

Operations

Executive

Administration

Compliance

Risk Management

Relevant Roles

Business Owner

Entrepreneur

Company Director

Managing Director

CEO

Company Secretary

Legal Counsel

Corporate Lawyer

Business Consultant

Financial Director

Accountant

Tax Advisor

Business Development Manager

Operations Manager

Industries







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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

LLC Management Agreement

A South African law-governed agreement establishing management services terms for a Private Company (Pty) Ltd.

find out more

Sole Member Operating Agreement

A South African law-governed agreement establishing the operational framework and governance structure for a single-member private company.

find out more

2 Member LLC Operating Agreement

A South African legal agreement establishing the operating framework and governance structure for a two-member Limited Liability Company.

find out more

LLC Capital Contribution Agreement

A South African law-governed agreement documenting capital contributions to an LLC, including terms, conditions, and resulting membership interests.

find out more

Member Managed LLC Agreement

A comprehensive agreement establishing a member-managed private company in South Africa, outlining governance, operations, and compliance requirements under South African law.

find out more

LLC Business Partnership Agreement

A South African law-governed agreement establishing and regulating a Limited Liability Company partnership, outlining key terms and operational framework.

find out more

Multi Member Operating Agreement

A South African law-governed agreement establishing operational framework and member relationships for multi-member companies.

find out more

Management Company Operating Agreement

A South African law-governed agreement establishing the operational and governance framework for a management company, aligned with local corporate regulations and requirements.

find out more

Basic Operating Agreement

A foundational agreement under South African law that establishes the operational framework and governance structure for a business entity.

find out more

Restaurant Operating Agreement

A South African law-governed agreement establishing terms and conditions for restaurant operations, including licensing, compliance, and operational standards.

find out more

Operating Service Agreement

A South African law-governed agreement establishing terms for operational service provision between a service provider and client, including service specifications, standards, and compliance requirements.

find out more

Operating Agreement For Trucking Company

A South African legal agreement governing the establishment and operation of a trucking company, including management structure and operational protocols.

find out more

Operating Agreement For Corporation

A South African law-governed agreement establishing the operational and governance framework for a corporation under the Companies Act 2008.

find out more

Non Profit Operating Agreement

A governing document that establishes the operational and management framework for a South African non-profit organization, ensuring compliance with local regulations.

find out more

Limited Liability Agreement

A South African law-governed agreement that defines and limits parties' liability exposure and risk allocation in business relationships.

find out more

Limited Company Agreement

A South African law-governed agreement establishing the framework for a limited company's operation, governance, and shareholder relationships.

find out more

Joint Operating Agreement

A South African law-governed agreement establishing the framework for joint operations between multiple parties, detailing operational control, decision-making, and risk allocation.

find out more

Independent Contractor Operating Agreement

A South African law-governed agreement establishing terms and conditions between a company and an independent contractor for the provision of services.

find out more

Holding Company Operating Agreement

A South African law-governed agreement establishing the operational framework between a holding company and its subsidiaries, defining group governance and management structures.

find out more

Business Partnership Operating Agreement

A South African law-governed agreement establishing the operational and governance framework for a business partnership, including partner rights, responsibilities, and business management procedures.

find out more

Amended Operating Agreement LLC

A South African law-governed document that amends an existing private company operating agreement, updating governance structures and member rights.

find out more

Investment LLC Operating Agreement

A South African law-governed operating agreement that establishes and regulates an investment-focused LLC, defining member rights, investment policies, and governance structures.

find out more

Member Managed Operating Agreement

A South African legal agreement establishing the framework for a member-managed business entity, defining member rights, responsibilities, and operational procedures.

find out more

Operating Agreement For Member Managed Limited Liability Company

A comprehensive governing document for member-managed private companies in South Africa, establishing operational and management frameworks under South African law.

find out more

Business Operating Agreement

A South African law-governed agreement establishing the operational framework and governance structure for a business entity, defining member rights and responsibilities.

find out more

Membership Interest Agreement

A South African law-governed agreement that regulates the transfer or allocation of membership interests in a business entity, detailing terms, conditions, and parties' rights and obligations.

find out more

Operating Agreement For Single Member LLC

A governing document for a single-member private company in South Africa that establishes operational rules and management structure under South African law.

find out more

Sole Proprietorship Operating Agreement

A South African legal document establishing the operational framework and governance structure for a sole proprietorship business.

find out more

Real Estate LLC Operating Agreement

A South African law-governed operating agreement establishing the structure and management framework for a real estate-focused private company, defining member rights and operational procedures.

find out more

Manager Managed LLC Operating Agreement

A comprehensive governance document for manager-managed private companies in South Africa, establishing management structure and operational framework under local company law.

find out more

Operations Transfer Agreement

A South African law-governed agreement facilitating the transfer of business operations between entities, ensuring regulatory compliance and operational continuity.

find out more

LLC Shareholder Agreement

A South African law-governed agreement establishing rights and obligations between LLC shareholders, including management and ownership provisions.

find out more

Joint Venture Operating Agreement

A South African law-governed agreement establishing and regulating a joint venture's structure, management, and operations between multiple parties.

find out more

Operating Management Agreement

A South African law-governed agreement establishing terms for professional management of business operations or property by an operator on behalf of an owner.

find out more

Partnership Operating Agreement

A South African law-governed agreement establishing partnership terms, responsibilities, and operational framework between business partners.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.

Read our Privacy Policy.