Bill Text: SC H4275 | 2023-2024 | 125th General Assembly | Introduced


Bill Title: LLC Operating Agreement

Spectrum: Partisan Bill (Republican 4-0)

Status: (Introduced - Dead) 2023-04-05 - Referred to Committee on Judiciary [H4275 Detail]

Download: South_Carolina-2023-H4275-Introduced.html
2023-2024 Bill 4275 Text of Previous Version (Apr. 05, 2023) - South Carolina Legislature Online

South Carolina General Assembly
125th Session, 2023-2024

Bill 4275


Indicates Matter Stricken
Indicates New Matter


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

 

 

 

 

 

 

 

 

A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 33-44-409, RELATING TO GENERAL STANDARDS OF MEMBER'S AND MANAGER'S CONDUCT, SO AS TO PROVIDE AN EXCEPTION TO A MEMBER'S DUTY OF LOYALTY UNDER CERTAIN CIRCUMSTANCES.

 

Be it enacted by the General Assembly of the State of South Carolina:

 

SECTION 1.  Section 33-44-409(b)(3) of the S.C. Code is amended to read:

 

        (3) to refrain from competing with the company in the conduct of the company's business before the dissolution of the company. The item does not apply when a member is also a member of another LLC and there is not an enforceable noncompete provision in the operating agreement.

 

SECTION 2.  This act takes effect upon approval by the Governor.

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This web page was last updated on April 05, 2023 at 02:02 PM

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