GroundRules
S.C. Code Ann. § 33-44-405: Sharing of and right to distributions.
Where this section sits in the code
- Title 33 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
- CHAPTER 44 Uniform Limited Liability Company Act of 1996
- ARTICLE 4 Relations Of Members To Each Other And To Limited Liability Company
(a) Any distributions made by a limited liability company before its dissolution and winding up must be in equal shares.
(b) A member has no right to receive, and may not be required to accept, a distribution in kind.
(c) If a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution.
Collected 2026-09-02T07:04:34Z. Source file · JSON