South Carolina Statutes
§ 33-42-1020 — Withdrawal of general partner.
South Carolina § 33-42-1020
JurisdictionSouth Carolina
Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
Ch. 42UNIFORM LIMITED PARTNERSHIP ACT
This text of South Carolina § 33-42-1020 (Withdrawal of general partner.) 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. § 33-42-1020 (2026).
Text
A general partner may withdraw from a limited partnership at any time by giving written notice to the other partners but, if the withdrawal violates the partnership agreement, the limited partnership may recover from the withdrawing general partner damages for breach of the partnership agreement and offset the damages against the amount otherwise distributable to him.
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
HISTORY: 1984 Act No. 491, SECTION 1; 1985 Act No. 11, SECTIONS 3, 4; 1986 Act No. 533, SECTION 1.
Nearby Sections
15
§ 33-42-10
Short title.§ 33-42-1010
Interim distributions.§ 33-42-1020
Withdrawal of general partner.§ 33-42-1030
Withdrawal of limited partner.§ 33-42-1040
Distribution upon withdrawal.§ 33-42-1050
Distribution in kind.§ 33-42-1060
Right to distribution.§ 33-42-1070
Limitations on distribution.§ 33-42-1080
Liability upon return of contribution.§ 33-42-1210
Nature of partnership interest.§ 33-42-1220
Assignment of partnership interest.§ 33-42-1230
Rights of creditor.§ 33-42-1240
Right of assignee to become limited partner.§ 33-42-1410
Nonjudicial dissolution.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 33-42-1020, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/42/33-42-1020.