Multi-Member LLC Operating Agreement Template - South Dakota

If you are looking for the simplest way to set out the policy of the business and safeguard the owners of the company from bearing personal responsibility for the debts of the organization, you may negotiate and sign a S outh Dakota Multi-Member LLC Operating Agreement . It will help you describe the hierarchy of the entity and spell out the duties of the members and managers, prepare the rules for the board meetings and clarify which decisions require a vote, and provide for the correct allocation of shares.

A South Dakota Multi-Member LLC Operating Agreement template can be found via the link below - explain how the owners contribute capital and share the profits, what happens whenever you want to add a new member to the board or one of the owners retires and passes away, and how to dissolve the company once you have decided to terminate the business activities. Do not file this document anywhere - simply maintain an updated version of the operating agreement in your internal records for reference.

Still looking for a particular template? Take a look at the related forms and templates below:

• Starting a Business Forms and Templates;
• Corporation Forms;
• LLC Forms.