Updated April 26, 2022
A South Carolina multi-member LLC operating agreement is a legal document used by companies with more than one (1) contributing member. The document guides the members through the process of establishing company guidelines and procedures, among other important company policies, to create cohesion and help the business operate successfully.
This document is not a prerequisite for any company to conduct business in the state of South Carolina. However, in the absence of an operating agreement, the members could become personally liable should the company face any litigious claims. If the document is implemented, the members’ personal and financial assets will be protected.
The members should consider a close review of the document prior to filing. If the members aren’t comfortable with the language, they may wish to consider a consultation with a knowledgeable attorney for further assistance and clarification.