South Carolina General Assembly
125th Session, 2023-2024
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Indicates New Matter
H. 4275
STATUS INFORMATION
General Bill
Sponsors: Reps. Herbkersman, Sandifer, M.M. Smith and Whitmire
Companion/Similar bill(s): 4335
Document Path: LC-0256PH23.docx
Introduced in the House on April 5, 2023
Judiciary
HISTORY OF LEGISLATIVE ACTIONS
| Date | Body | Action Description with journal page number |
|---|---|---|
| 4/5/2023 | House | Introduced and read first time (House Journal-page 95) |
| 4/5/2023 | House | Referred to Committee on Judiciary (House Journal-page 95) |
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VERSIONS OF THIS BILL
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 5, 2023 at 2:02 PM