Form Sc-00llc-1 - Llc Operating Agreement Page 2
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20OPERATING AGREEMENT
OF
______________________________________
A SOUTH CAROLINA LIMITED LIABILITY COMPANY
THIS OPERATING AGREEMENT ("Agreement") is entered into the ______ day of
_____________________, 20______, by and between the following persons:
1.
_______________________________________________________________
2.
_______________________________________________________________
3.
_______________________________________________________________
4.
_______________________________________________________________
hereinafter, ("Members" or “Parties”).
FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby
acknowledged, the Parties covenant, contract and agree as follows:
ARTICLE I
FORMATION OF LIMITED LIABILITY COMPANY
1. Formation of LLC. The Parties have formed a South Carolina limited liability company
named ___________________________________________________ ("LLC"). The operation
of the LLC shall be governed by the terms of this Agreement and the applicable laws of the State
of South Carolina relating to the formation, operation and taxation of a LLC, including the South
Carolina Uniform Limited Liability Company Act (South Carolina Code of Laws, Title 33,
Chapter 44) hereinafter referred to as the "Act". To the extent permitted by the Act, the terms
and provisions of this Agreement shall control if there is a conflict between such Act and this
Agreement. The Parties intend that the LLC shall be taxed as a partnership. Any provisions of
this Agreement, if any, that may cause the LLC not to be taxed as a partnership shall be
inoperative.
2.
Articles of Organization.
The Members acting through one of its Members,
_____________________________________, filed Articles of Organization, ("Articles") for
record in the office of the Secretary of State on _________________, 20____, thereby creating
the LLC.
3.
Business. The business of the LLC shall be to pursue any lawful business.
4.
Registered Office and Registered Agent. The registered office and place of business of
the LLC shall be ________________________________________________________________
and the registered agent at such office shall be __________________________________. The
Members may change the registered office and/or registered agent from time to time.
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