A South Carolina multi-member LLC operating agreement establishes a comprehensive document outlining the company’s governance and operational protocols when the organization has multiple owners. It serves as a foundational blueprint detailing ownership division, tax considerations, and protocols for unforeseen circumstances like member incapacity or business dissolution.
Even though South Carolina doesn’t mandate the creation of this document for the business to conduct its operations, it’s often necessary for financial transactions like securing loans or opening business bank accounts. With this agreement in place, members can shield themselves against personal liability from legal challenges or business debts.
