South Carolina Statutes
§ 33-44-1102 — Proper plaintiff.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 44 UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996
In a derivative action for a limited liability company, the plaintiff must be a member of the company when the action is commenced; and (1) must have been a member at the time of the transaction of which the plaintiff complains; or (2) the plaintiff's status as a member must have devolved upon the plaintiff by operation of law or pursuant to the terms of the operating agreement from a person who was a member at the time of the transaction.
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South Carolina § 33-44-1102 (Proper plaintiff.) — 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.