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| Be Unique: | Use a Legal Designator: | Stay Honest: |
|---|---|---|
Your LLC name must be distinguishable from business names already on file with the Secretary of State. | Your LLC name must include "Limited Liability Company" or an abbreviation like "LLC," "L.L.C.," "LC," or "L.C." [2] | Restricted words (like "bank" or "trust") may need approval, and your name cannot imply government affiliation or a different business type. |

General Business Information | Includes your LLC name, effective date, business purpose, duration (perpetual or fixed), and South Carolina registered agent details as listed in your Articles of Organization. |
Management Structure | Defines whether the LLC is member-managed or manager-managed. It also explains who has the authority to run daily operations and enter into contracts on behalf of the LLC. |
Tax Designation | Notes the LLC's intended tax classification. By default, single-member LLCs are taxed as sole proprietorships and multi-member LLCs as partnerships, unless an IRS election is made. |
Member Information | Lists all LLC members and their ownership percentages (called membership interest). |
Capital Contributions | Details how much money or assets each member contributes to the LLC and records those contributions. |
Voting Rights and Decision Making | Explains how decisions are made. Voting power is typically based on ownership percentage. It also outlines which decisions require member approval, such as adding or removing members. |
Membership Changes | Covers how ownership can be transferred, and the process for adding or removing members from the LLC. |
LLC Dissolution | Explains how to wind up the LLC, distribute assets, and formally close the business with the state of South Carolina. |
Record Keeping and Distribution | States that all members should receive a copy of the Operating Agreement and that it should be kept with the LLC’s business records. |