South Carolina § 33-44-802 Limited liability company continues after dissolution.

South Carolina Statutes

§ 33-44-802 — Limited liability company continues after dissolution.

South Carolina § 33-44-802

Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

Ch. 44UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996

This text of South Carolina § 33-44-802 (Limited liability company continues after dissolution.) 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. § 33-44-802 (2026).

Text

(a)Subject to subsection (b), a limited liability company continues after dissolution only for the purpose of winding up its business.

(b)At any time after the dissolution of a limited liability company and before the winding up of its business is completed, the members, including a dissociated member whose dissociation caused the dissolution, may unanimously waive the right to have the company's business wound up and the company terminated. In that case:

(1)the limited liability company resumes carrying on its business as if dissolution had never occurred and any liability incurred by the company or a member after the dissolution and before the waiver is determined as if the dissolution had never occurred; and (2) the rights of a third party accruing under Section 33-44-804(a) or arisi

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(a) Subject to subsection (b), a limited liability company continues after dissolution only for the purpose of winding up its business. (b) At any time after the dissolution of a limited liability company and before the winding up of its business is completed, the members, including a dissociated member whose dissociation caused the dissolution, may unanimously waive the right to have the company's business wound up and the company terminated. In that case: (1) the limited liability company resumes carrying on its business as if dissolution had never occurred and any liability incurred by the company or a member after the dissolution and before the waiver is determined as if the dissolution had never occurred; and (2) the rights of a third party accruing under Section 33-44-804(a) or arising out of conduct in reliance on the dissolution before the third party knew or received a notification of the waiver are not adversely affected.