S.C. Code § 33-44-501
Member's distributional interest
South Carolina · South Carolina Code Title 33, Chapter 44 — Uniform Limited Liability Company Act of 1996 · Status: effective
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- Citation
- S.C. Code § 33-44-501, Member's distributional interest, South Carolina, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1576823
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Full text
(a) A member is not a co-owner of, and has no transferable interest in, property of a limited liability company.
(b) A distributional interest in a limited liability company is personal property and, subject to Sections 33-44-502 and 33-44-503, may be transferred in whole or in part.
(c) An operating agreement may provide that a distributional interest may be evidenced by a certificate of the interest issued by the limited liability company and, subject to Section 33-44-503, may also provide for the transfer of any interest represented by the certificate.