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South Carolina · Through 2025 Session of the General Assembly

S.C. Code Ann. § 33-44-403: Member's and manager's rights to payments and reimbursement.

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Where this section sits in the code
  1. Title 33 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
  2. CHAPTER 44 Uniform Limited Liability Company Act of 1996
  3. ARTICLE 4 Relations Of Members To Each Other And To Limited Liability Company

(a) A limited liability company shall reimburse a member or manager for payments made and indemnify a member or manager for liabilities incurred by the member or manager in the ordinary course of the business of the company or for the preservation of its business or property.

(b) A limited liability company shall reimburse a member for an advance to the company beyond the amount of contribution the member agreed to make.

(c) A payment or advance made by a member which gives rise to an obligation of a limited liability company under subsection (a) or (b) constitutes a loan to the company upon which interest accrues from the date of the payment or advance.

(d) A member is not entitled to remuneration for services performed for a limited liability company, except for reasonable compensation for services rendered in winding up the business of the company.

Collected 2026-09-02T07:04:34Z. Source file · JSON

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