South Carolina General Assembly
125th Session, 2023-2024
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Indicates Matter Stricken
Indicates New Matter
H. 4335
STATUS INFORMATION
General Bill
Sponsors: Rep. Herbkersman
Companion/Similar bill(s): 4275
Document Path: LC-0269PH23.docx
Introduced in the House on April 18, 2023
Judiciary
HISTORY OF LEGISLATIVE ACTIONS
| Date | Body | Action Description with journal page number |
|---|---|---|
| 4/18/2023 | House | Introduced and read first time (House Journal-page 147) |
| 4/18/2023 | House | Referred to Committee on Judiciary (House Journal-page 147) |
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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. This 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. This act is retroactive and applies to any current LLC.
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This web page was last updated on April 18, 2023 at 1:45 PM