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

South Carolina Statutes

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

South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 44 UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996

(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.

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