Required in South Dakota?
No. Adopting an operating agreement is not mandatory for businesses in South Dakota.
By Type (2)
Single-Member LLC Operating Agreement – For use specifically by a sole proprietor (single owner) who would like to establish the procedures and activities of the company, among many other aspects and needed protections.
Download: PDF, MS Word (.docx), OpenDocument
Multi-Member LLC Operating Agreement – For use by companies that have more than one (1) member to contribute and member manage the business.
Download: PDF, MS Word (.docx), OpenDocument
State Definition
“Operating agreement” means any valid agreement, either written or oral, under §47-34A-103 concerning the relations among the members, managers, and limited liability company; however, an integration clause contained in a written operating agreement may be given effect under other law. The term includes amendments to and restatements of the operating agreement. The operating agreement of a limited liability company having only one member shall not be unenforceable by reason of there being only one person who is a party to the operating agreement.