South Carolina § 33-44-703 Dissociated member's power to bind limited liability company.

South Carolina Statutes

§ 33-44-703 — Dissociated member's power to bind limited liability company.

South Carolina § 33-44-703

Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

Ch. 44UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996

This text of South Carolina § 33-44-703 (Dissociated member's power to bind limited liability company.) 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. § 33-44-703 (2026).

Text

For two years after a member dissociates without the dissociation resulting in a dissolution and winding up of a limited liability company's business, the company, including a surviving company under Article 9, is bound by an act of the dissociated member which would have bound the company under Section 33-44-301 before dissociation only if at the time of entering into the transaction the other party:

(1)reasonably believed that the dissociated member was then a member;

(2)did not have notice of the member's dissociation; and (3) is not deemed to have had notice under Section 33-44-704.

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For two years after a member dissociates without the dissociation resulting in a dissolution and winding up of a limited liability company's business, the company, including a surviving company under Article 9, is bound by an act of the dissociated member which would have bound the company under Section 33-44-301 before dissociation only if at the time of entering into the transaction the other party: (1) reasonably believed that the dissociated member was then a member; (2) did not have notice of the member's dissociation; and (3) is not deemed to have had notice under Section 33-44-704.