To protect your personal assets and avoid piercing of the corporate veil, limited liability companies need to: Create and regularly update an operating agreement. Issue membership certificates to owners. Maintain a membership transfer ledger. Hold both an initial and then annual meetings of the members (and the managers, if your LLC is manager-managed). Undertake annual filings required by the state of incorporation (and the state the company is doing business) in on time. Pay any filing fees and taxes. Every LLC requires a registered agent. Visit RapidRegisteredAgent.com for information about the services we provide.