If the Single Member LLC has expenses, the single member LLC pays those expenses to the single member LLC current account. By establishing and approving all the conditions set out in a company agreement, members find that there are fewer discrepancies in how transactions are managed or how profits and losses are distributed. Some states, including Delaware, California, New York, Maine, or Missouri, require you to have an LLC enterprise agreement. Policies vary from state to state, but even if you don`t have a legal obligation to have one, it`s still a good idea to make a written agreement outlining the activity. If your LLC decides to get a new member, describe the details of their boarding process and the incentives the member would receive when joining LLC. .