A South Carolina limited liability company operating agreement grants its members the comfort of working under a structure they have negotiated and agreed to. Since this contract intends to keep a consistent definition of the requirements and responsibilities of each LLC member over time, it should be written and notarized when signed.
South Carolina does not require a written (or a verbal) operating agreement and leaves it up to the company’s members to determine whether one should be issued. Nonetheless, South Carolina LLC members would be well-advised to create and implement a reasonably comprehensive operating agreement as early as possible.
Is it Required in South Carolina?
No. South Carolina law does not impose any requirements on LLCs to create an operating agreement but will enforce one as a binding contract.
Templates (2)
Single-Member LLC operating agreement – To be utilized by a South Carolina LLC consisting of a maximum of one (1) member.
Multi-Member LLC operating agreement – To be used by South Carolina LLCs made up of at least two (2) members.
State Definition
“(13) ‘Operating agreement’ means the agreement under Section 33-44-103 concerning the relations among the members, managers, and limited liability company. The term includes amendments to the agreement.”
