2013 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 44 - UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996
SECTION 33-44-1102. Proper plaintiff.


SC Code § 33-44-1102 (2013) What's This?

In a derivative action for a limited liability company, the plaintiff must be a member of the company when the action is commenced; and

(1) must have been a member at the time of the transaction of which the plaintiff complains; or

(2) the plaintiff's status as a member must have devolved upon the plaintiff by operation of law or pursuant to the terms of the operating agreement from a person who was a member at the time of the transaction.

HISTORY: 1996 Act No. 343, Section 2.

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