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In this tutorial, Joey discusses the proper approach to funding an LLC, especially for new owners who may need to contribute personal funds to support their business. He emphasizes that an LLC must have an operating agreement, which outlines management structure, bank account access, and distribution of profits and losses. This agreement is essential for opening a business bank account and is crucial for the LLC’s functioning. For single-member LLCs, a specific single-member operating agreement is needed, which can be obtained from his website.
