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 § 33-44-405

Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

Ch. 44UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996

This text of South Carolina § 33-44-405 (Sharing of and right to distributions.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 33-44-405 (2026).

Text

(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.