An Overview Of How To Complete South Carolina Articles Of Organization
Setting up an LLC in South Carolina is a process that can take up to six weeks. You can use expedited processing, and if you do, it can be done within a matter of days. To start this process, you will need to complete and submit the Articles of Organization for your limited liability company. This can be done by you, or another business, so that this process can get started. There are many benefits to having an LLC for your business. One of the primary reasons that people do this is for the protection of personal assets. They may also create an Operating Agreement that can further define the separation between the limited liability company in the business that they are operating. If you are not sure how to fill out the Articles of Organization, here is what you need to do.
What Are The Articles Of Organization?
This is the initial document that you will submit to the South Carolina Secretary of State for consideration of creating your LLC. It’s going to have a lot of pertinent information, some of which is not available unless you do prior work to set certain things up. For example, you need to have already chosen and registered the name of the LLC. You must also list the registered agent that will receive the legal documents from you sent by the state. You must also have managers, and you must decide if it is going to be a manager-managed LLC. Finally, you need organizers, and they must be listed, with their name and address, plus they must sign the document to make it legal. These are just a few of the things that need to be on the Articles of Organization before you submit it.
How To Get Your LLC Name Registered
If you have a name in mind for your limited liability company, you must then go through the process of reserving it. This can be done, for a $25 fee, paid to the South Carolina Secretary of State Corporation Division. The application is called the Application to Reserve a Limited Liability Company Name. You can actually reserve your name for up to 120 days before filing to own it. Once you have it, this is what you will place on the Articles of Organization.
Where To Get A Registered Agent
It is so beneficial to work with a business that will be setting all of this up for you. You won’t have to worry about finding a registered agent. Although these businesses or individuals are easy to find, it can be difficult to assess which one will provide you with the best level of service. That’s why businesses that set up LLCs for companies often provide them with this option. You need to have a registered agent to legally operate your LLC. Once you have designated one, they can then be listed on the Articles of Organization that you are submitting to the Secretary of State.
What About The Operating Agreement?
This is an entirely separate document that does not actually have to be turned in or submitted to the Secretary of State. It is a personal document, related to your limited liability company, and how business is conducted within that context. In South Carolina, the operating agreement can be quite comprehensive. You need to detail who the members are, what their voting powers are, and what their responsibilities and rights will be. You must also show the percentage of interest that each member will have, and list the buyout provisions in case someone wants to leave. In regard to votes, you need to designate who will be in charge of this and who will be holding the meetings and what the rules for these meetings actually are. It’s a comprehensive document as stated before, but it can be very helpful if you are ever in the midst of litigation, specifically a civil suit where people are trying to obtain your personal assets.
What Happens After You Submit The Articles Of Organization?
Once you have submitted these, if you are only paying for the standard fee, it will take up to six weeks for this to be processed. If you decide to take advantage of the expedited service, it can be done within days. Once it is completed, they will send you a notification, along with paperwork regarding your LLC. If you do this yourself, or you use a business to help you, the process will occur in the same way.
Completing your Articles of Organization can be a long-term process. After all, you do have to register the name of your LLC, find a registered agent, and complete all of the other parts of the document. Instead, you may want to consider working with a company that does this all the time. They will likely have registered agents that you can use in the state of South Carolina. If this is something that you would prefer doing, simply contact a business that is known for creating LLCs rapidly, and start working with this company so they can help you complete this process.