South Dakota LLC Operating Agreement
The South Dakota LLC Operating Agreement is the core document that is referred to when issues
concerning a South Dakota limited liability
company (“LLC”) need to be resolved.
Operating Agreement is the most important document for your South Dakota LLC.
In the case of a single member LLC, without the formality
of an LLC Operating Agreement, the LLC can closely resemble
a sole proprietorship, which does not limit your personal
liability for business debts of the LLC.
With respect to a multi-member LLC, the LLC Operating Agreement reflects the agreement among the members with
respect to the affairs and management of the LLC and governs
the relationship amongst the members of the LLC. By having
an LLC Operating Agreement, the members will be provided
with a clear set of rules that all members have agreed upon
greatly reducing the likelihood of disagreement between
them in the future. A LLC Operating Agreement will also
greatly reduce financial and management misunderstandings,
and make sure your business is governed by your own rules
-- not default rules created by the state of South Dakota.
Need a LLC Operating Agreement for your South Dakota LLC?
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South Dakota LLC in a matter of minutes.
Whether your LLC
will have one or more members, will be managed by its members
or by elected managers, or will be granting one or more
members an interest in the LLC for the performance of services,
myLLCagreement.com will generate a customized LLC operating
agreement tailored to the needs of your business.
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South Dakota LLC.
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The LLC operating
agreement does not have to be filed with any state agency.
All states, including the state of South Dakota will enforce
valid operating agreements entered into among LLC members.
The operating agreement will only be enforced against the
persons who are parties to the agreement. Therefore, it
is extremely important that all members of an LLC sign the
Dakota Limited Liability Company
LLC Filing Office
500 East Capitol Avenue Ste 204
Pierre, SD 57501-5070
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Entity or Franchise Level Tax
Dakota does not require partnerships, LLCs taxable as partnerships,
or disregarded single-member LLCs to pay a general net worth
tax based on net income.
State LLC Act
South Dakota LLC Act is contained in Title 47, Chapter 34
of the South Dakota Codified Laws.
The South Dakota LLC Act
LLC is managed by its members unless the Operating Agreement
states that the LLC is to be managed by one or more managers.
Admission of Members
otherwise provided, new interests in the LLC must be issued
with the consent of all the members.
Amending the Operating Agreement
otherwise provided in the Operating Agreement, amendments
to the Operating Agreement require approval of all the members.
otherwise specified in the Operating Agreement, unanimous
consent of all members is required to voluntarily dissolve
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