South Carolina LLC Operating Agreement
The South Carolina LLC Operating Agreement is the core document that is referred to when issues
concerning a South Carolina limited liability
company (“LLC”) need to be resolved.
Operating Agreement is the most important document for your South Carolina 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 Carolina.
Need a LLC Operating Agreement for your South Carolina LLC?
will generate a customized LLC Operating agreement for your
South Carolina 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.
If you don’t want
to spend thousands of dollars on a lawyer and don’t trust
outdated internet forms, then let myLLCagreement.com help
you create a customized LLC operating agreement for your
South Carolina 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 Carolina 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
Carolina Limited Liability Company
LLC Filing Office
Edgar Brown Building
P.O. Box 11350
Columbia, SC 29211
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Entity or Franchise Level Tax
Carolina 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 Carolina LLC Act is contained in Title 33, Chapter
44 of the South Carolina Code.
The South Carolina 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. Unless otherwise provided
in the Operating Agreement, the admission of a transferee
as a member must be approved by the members holding a majority
of the capital interests of the LLC.
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
written consent of all members is required to authorize
transactions that personally benefit managers of the LLC,
make interim distributions, sell all LLC assets, or voluntarily
dissolve the LLC.
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LLC OPERATING AGREEMENT IN MINUTES
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