2013 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 44 - UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996
SECTION 33-44-405. Sharing of and right to distributions.
(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.
HISTORY: 1996 Act No. 343, Section 2.
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