A South Carolina multi-member LLC operating agreement is a document that establishes the ownership structure and operating procedures for a limited liability company with multiple owners, also known as members. While not required by law to conduct business in South Carolina, the operating agreement is highly recommended, as it can clarify expectations, prevent disputes, and shield members’ assets from debts and obligations the company might confront. The contract sets out a plan for how the corporation will handle membership, finances, legal matters, dissolution, and other issues. Each member should retain a signed and notarized copy.