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Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
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Charleston Family Law Attorney Charleston Divorce Lawyer Charleston Criminal Attorney Charleston DUI Lawyer
Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
If you'd like for us to send you an email when the book is updated, please fill out and send this form.
Charleston Family Law Attorney Charleston Divorce Lawyer Charleston Criminal Attorney Charleston DUI Lawyer
Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
If you'd like for us to send you an email when the book is updated, please fill out and send this form.
Charleston Family Law Attorney Charleston Divorce Lawyer Charleston Criminal Attorney Charleston DUI Lawyer
Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
If you'd like for us to send you an email when the book is updated, please fill out and send this form.
Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
If you'd like for us to send you an email when the book is updated, please fill out and send this form.
Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
Send a message to Thomas Nelson.
Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
Send a message to Stephan Futeral.
Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
Send a message to Kelsey Futeral.
Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
If you'd like for us to send you an email when the book is updated, please fill out and send this form.
Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
If you'd like for us to send you an email when the book is updated, please fill out and send this form.
Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
If you'd like for us to send you an email when the book is updated, please fill out and send this form.
Futeral & Nelson 843-284-5500 1004 Anna Knapp Blvd.
Mt. Pleasant, SC 29464
Send a message to Tiffany Rogers

Members of LLC’s Exposed to Personal Liability ▪ Charleston Business Lawyers

  • Members of LLC's Exposed to Personal Liability ▪ Charleston Business Lawyers

In 1996, South Carolina adopted the Uniform Limited Liability Act. Since that time, many organizations have decided to do business as a Limited Liability Company (LLC) instead of as a corporation. LLC’s have some advantages over corporations such as flexibility in ownership and management structures, certain tax benefits, and fewer formalities. Until recently, one perceived advantage was that a member of a LLC, unlike a shareholder of a corporation, was not personally liability for any wrongful act committed while working on the LLC’s business. 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. However, in April 2012, a divided South Carolina Supreme Court decided that despite the clear language of the Limited Liability Act, a member of a LLC is liability for any wrongful acts committed while working for the LLC. The majority of the court held that the “right to sue one’s tortfeasor” is a “long-standing right” in our legal system, and the General Assembly did not intend for “such a sweeping liability shield” as insulating members of LLCs from personal liability. Justice Beatty, joined by Justice Toal, dissented and wrote that he would not find a LLC member individually liable and emphasized the that the court should not re-write a statute if it is clear and unambiguous.

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Call Futeral & Nelson, LLC today for a consultation. 843-284-5500.
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By | 2016-12-24T11:38:32+00:00 April 30th, 2012|Business Law in Charleston, South Carolina|0 Comments
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