South Carolina Statutes
§ 33-44-301 — Agency of members and managers.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 44 UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996
(a)Subject to subsections (b) and (c):
(1)Each member is an agent of the limited liability company for the purpose of its business, and an act of a member, including the signing of an instrument in the company's name, for apparently carrying on in the ordinary course the company's business or business of the kind carried on by the company binds the company, unless the member had no authority to act for the company in the particular matter and the person with whom the member was dealing knew or had notice that the member lacked authority.
(2)An act of a member which is not apparently for carrying on in the ordinary course the company's business or business of the kind carried on by the company binds the company only if the act was authorized by the other members.
(b)Subject to subsectio
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South Carolina § 33-44-301 (Agency of members and managers.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1996 Act No. 343, SECTION 2.
Nearby Sections
15
§ 33-44-1002
Application for certificate of authority.§ 33-44-1004
Issuance of certificate of authority.§ 33-44-1005
Name of foreign limited liability company.§ 33-44-1006
Revocation of certificate of authority.§ 33-44-1007
Cancellation of authority.§ 33-44-1009
Action by Attorney General.§ 33-44-101
Definitions.§ 33-44-102
Knowledge and notice.§ 33-44-104
Supplemental principles of law.§ 33-44-105
Name.§ 33-44-106
Reserved name.