South Carolina § 33-44-405 Sharing of and right to distributions.

South Carolina Statutes

§ 33-44-405 — Sharing of and right to distributions.

South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 44 UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996

(a)Any distributions made by a limited liability company before its dissolution and winding up must be in equal shares.

(b)A member has no right to receive, and may not be required to accept, a distribution in kind.

(c)If a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution.

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(a) Any distributions made by a limited liability company before its dissolution and winding up must be in equal shares. (b) A member has no right to receive, and may not be required to accept, a distribution in kind. (c) If a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution.

South Carolina § 33-44-405 (Sharing of and right to distributions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.