S.C. Code § 33-44-1102

Current through 2024 Act No. 225.

Section 33-44-1102 - Proper plaintiff

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.

S.C. Code § 33-44-1102

1996 Act No. 343, Section 2.