S.C. Code § 33-44-1102
Proper plaintiff
South Carolina · South Carolina Code Title 33, Chapter 44 — Uniform Limited Liability Company Act of 1996 · Status: effective
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- S.C. Code § 33-44-1102, Proper plaintiff, South Carolina, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1576876
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Full text
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.