S.C. Code Ann. § 33-43-1001 – [Repealed eff January 1, 2001] Law governing | Midpage
§ 33-43-1001
S.C. Code Ann. § 33-43-1001
[Repealed eff January 1, 2001] Law governing
(A) Subject to the Constitution of South Carolina and except as provided in subsection (B), the laws of the State or other jurisdiction under which a foreign limited liability company is organized shall govern the organization and internal affairs, and authority of its managers and members of a foreign limited liability company transacting business in South Carolina.
(B) A foreign limited liability company that has obtained a certificate of authority to transact business in South Carolina pursuant to Chapter 43 of Title 33 and its members and managers have no greater rights and privileges than a domestic limited liability company and its members and managers with respect to transactions and relationship with persons who are not members. The certificate of authority does not authorize the foreign limited liability company to exercise any powers or engage in any business that a domestic limited liability company is forbidden to exercise or engage in by the laws of this State.