South Carolina § 33-44-501 Member's distributional interest.

South Carolina Statutes

§ 33-44-501 — Member's distributional interest.

South Carolina § 33-44-501

Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

Ch. 44UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996

This text of South Carolina § 33-44-501 (Member's distributional interest.) 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. § 33-44-501 (2026).

Text

(a)A member is not a co-owner of, and has no transferable interest in, property of a limited liability company.

(b)A distributional interest in a limited liability company is personal property and, subject to Sections 33-44-502 and 33-44-503, may be transferred in whole or in part.

(c)An operating agreement may provide that a distributional interest may be evidenced by a certificate of the interest issued by the limited liability company and, subject to Section 33-44-503, may also provide for the transfer of any interest represented by the certificate.

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(a) A member is not a co-owner of, and has no transferable interest in, property of a limited liability company. (b) A distributional interest in a limited liability company is personal property and, subject to Sections 33-44-502 and 33-44-503, may be transferred in whole or in part. (c) An operating agreement may provide that a distributional interest may be evidenced by a certificate of the interest issued by the limited liability company and, subject to Section 33-44-503, may also provide for the transfer of any interest represented by the certificate.