South Carolina Notice of Change of Operator Under Unit Operating Agreement
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How to fill out Notice Of Change Of Operator Under Unit Operating Agreement?
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FAQ
SECTION 33-44-303. Liability of members and managers. (a) Except as otherwise provided in subsection (c), the debts, obligations, and liabilities of a limited liability company, whether arising in contract, tort, or otherwise, are solely the debts, obligations, and liabilities of the company.
Organization. (a) One or more persons may organize a limited liability company, consisting of one or more members, by delivering articles of organization to the office of the Secretary of State for filing.
Specifically, Section 33-44-303 of the South Carolina Code of Laws provides that the liabilities of the LLC are solely the liabilities of the company, and a member or manager is not personally liable for them solely by reason of being or acting as a member or a manager.
The process could look different depending on the policies your LLC has in place, but usually, you'll need to do the following: Draft an amendment. Hold a meeting of all LLC members. Present and vote on the amendment. Adopt the change if a majority of members agree on the amendment. Update your LLC's operating agreement.
Unlike the South Carolina Articles of Organization, the operating agreement is an internal document?you don't need to file it with the Secretary of State?but having a strong operating agreement is essential.
South Carolina Code of Laws Sections 33-44-108 through 33-44-111 contain the state law governing registered agents for limited liability companies. This includes the need to have an agent and office for service of process, the procedures for changing the agent or office, and what an agent must do to resign.
S.C. Code Ann. § 33-44-504(e) provides that Section is the exclusive remedy by which a judgment creditor may satisfy a judgment out of the distributional interests in an LLC.
