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Bill% found 7 times.

H 4275

Session 125 (2023-2024)

H 4275  General Bill, By  Herbkersman, Sandifer, M.M. Smith and Whitmire

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.

  
    
      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)

VERSIONS OF THIS BILL

04/05/2023

H. 4275

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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