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South Carolina Statutes, Title 33

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Title 33, Corporations, Partnerships and Associations

35 chapters · 1,028 sections in this title.

All chapters in Title 331,028 Ch 31, Title 33, Chapter 31186 Ch 44, Title 33, Chapter 4494 Ch 42, Title 33, Chapter 4273 Ch 49, Title 33, Chapter 4970 Ch 41, Title 33, Chapter 4162 Ch 46, Title 33, Chapter 4652 Ch 47, Title 33, Chapter 4747 Ch 36, Title 33, Chapter 3645 Ch 37, Title 33, Chapter 3737 Ch 8, Title 33, Chapter 835 Ch 19, Title 33, Chapter 1935 Ch 18, Title 33, Chapter 1826 Ch 39, Title 33, Chapter 3924 Ch 56, Title 33, Chapter 5624

1,028 sections·Filtered byTitle 33✕

S.C. Code Ann. § 33-42-1610 Law governing
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(a) Subject to the Constitution of this State, (1) the laws of the state under which a foreign limited partnership is organized govern its organization and internal affairs and the liability of its limited partners, and (2) a foreign limited partnership may not be denied registra…
S.C. Code Ann. § 33-42-1620 Registration
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Before transacting business in this State, a foreign limited partnership shall register with the Secretary of State. In order to register, a foreign limited partnership shall submit to the Secretary of State, in duplicate, an application for registration as a foreign limited part…
S.C. Code Ann. § 33-42-1630 Issuance of registration
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(a) If the Secretary of State finds that an application for registration conforms to law and all requisite fees have been paid, he shall: (1) endorse on the application the word "Filed", and the month, day, and year of the filing thereof; (2) file in his office a duplicate origin…
S.C. Code Ann. § 33-42-1640 Name
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(a) A foreign limited partnership may register with the Secretary of State under any name (whether or not it is the name under which it is registered in its state of organization) that could be registered by a domestic limited partnership under SECTION 33-42-30. (b) A foreign lim…

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S.C. Code Ann. § 33-42-1650 Changes and amendments

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If any statement in the application for registration of a foreign limited partnership was false when made or any arrangements or other facts described have changed, making the application inaccurate in any respect, the foreign limited partnership shall promptly file in the office…

S.C. Code Ann. § 33-42-1660 Cancellation of registration

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A foreign limited partnership may cancel its registration by filing with the Secretary of State a certificate of cancellation signed and sworn to by a general partner. A cancellation does not terminate the authority of the Secretary of State to accept service of process on the fo…

S.C. Code Ann. § 33-42-1670 Transaction of business without registration

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(a) A foreign limited partnership transacting business in this State may not maintain any action, suit, or proceeding in any court of this State until it has registered in this State. (b) The failure of a foreign limited partnership to register in this State does not impair the v…

S.C. Code Ann. § 33-42-1680 Action of Attorney General

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The Attorney General may bring an action to restrain a foreign limited partnership from transacting business in this State in violation of this chapter.

S.C. Code Ann. § 33-42-1690 Activities not deemed transacting business

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(a) Without excluding other activities that do not constitute transacting business in this State, a foreign limited partnership is considered not to be transacting business in this State, for purposes of this chapter, solely by reason of carrying on in this State any one or more …

S.C. Code Ann. § 33-42-1810 Right of action

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A limited partner may bring an action in the right of a limited partnership to recover a judgment in its favor if general partners with authority to do so have refused to bring the action or if an effort to cause those general partners to bring the action is not likely to succeed…

S.C. Code Ann. § 33-42-1820 Proper plaintiff

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In a derivative action, the plaintiff must be a partner at the time of bringing the action and (1) must have been a partner at the time of the transaction of which he complains or (2) his status as a partner must have devolved upon him by operation of law or pursuant to the terms…

S.C. Code Ann. § 33-42-1830 Pleading

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In a derivative action, the complaint shall set forth with particularity the effort of the plaintiff to secure initiation of the action by a general partner or the reasons for not making the effort.

S.C. Code Ann. § 33-42-1840 Expenses

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If a derivative action is successful, in whole or in part, or if anything is received by the plaintiff as a result of a judgment, compromise, or settlement of an action or claim, the court may award the plaintiff reasonable expenses, including reasonable attorney's fees, and shal…

S.C. Code Ann. § 33-42-20 Definitions

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As used in this chapter, unless the context otherwise requires: (1) "Certificate of limited partnership" means the certificate referred to in SECTION 33-42-210, any certificate of limited partnership filed with the office of the Secretary of State in connection with the formation…

S.C. Code Ann. § 33-42-2010 Construction and application

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This chapter must be so applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it.

S.C. Code Ann. § 33-42-2020 Rules for cases not provided for in this chapter

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In any case not provided for in this chapter the provisions of the Uniform Partnership Act govern.

S.C. Code Ann. § 33-42-2030 Severability

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If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the provisions…

S.C. Code Ann. § 33-42-2040 Filing fees

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(a) The Secretary of State shall charge ten dollars for filing any document required to be filed pursuant to this chapter. This charge shall include the cost of sending to the person requesting the filing, or that person's designee, a duplicate copy of the document submitted with…

S.C. Code Ann. § 33-42-210 Certificate of limited partnership

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(a) In order to form a limited partnership, a certificate of limited partnership must be executed and filed in the office of the Secretary of State. The certificate shall set forth: (1) the name of the limited partnership; (2) the address of the office and the name and address of…

S.C. Code Ann. § 33-42-2110 Plan of merger; contents; approval; filing; notice of name change as to real property

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(a) Pursuant to a plan of merger approved pursuant to subsection (c), a limited partnership may be merged with or into one or more partnerships, foreign partnerships, corporations, foreign corporations, limited liability companies, foreign limited liability companies, limited par…

S.C. Code Ann. § 33-42-2120 Articles of merger; contents; filing

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(a) After approval of the plan of merger pursuant to Section 33-42-2110(c), unless the merger is abandoned pursuant to Section 33-42-2110(d), articles of merger must be signed on behalf of each limited partnership or other entity that is a party to the merger and delivered to the…

S.C. Code Ann. § 33-42-2130 Effect of merger; service of process; liability for partnership obligations

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(a) When a merger takes effect: (1) the separate existence of each limited partnership or other entity that is a party to the merger, other than the surviving entity, terminates; (2) all property owned by each of the limited partnerships and other entities that are party to the m…

S.C. Code Ann. § 33-42-2140 Merger pursuant to other law

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This article does not preclude a limited partnership from being merged pursuant to other law.

S.C. Code Ann. § 33-42-220 Amendment to certificate

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(a) A certificate of limited partnership is amended by filing a certificate of amendment thereto in the office of the Secretary of State. The certificate shall set forth: (1) the name of the limited partnership; (2) the date of filing the certificate; and (3) the amendment to the…

S.C. Code Ann. § 33-42-230 Cancellation of certificate

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A certificate of limited partnership must be cancelled upon the dissolution and the commencement of winding up of the partnership or at any other time there are no limited partners. A certificate of cancellation must be filed in the office of the Secretary of State and set forth:…

S.C. Code Ann. § 33-42-240 Execution of certificates

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(a) Each certificate required by this article to be filed in the office of the Secretary of State must be executed in the following manner: (1) an original certificate of limited partnership must be signed by all general partners named therein; (2) a certificate of amendment must…

S.C. Code Ann. § 33-42-250 Execution by judicial act

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If a person required by SECTION 33-42-240 to execute any certificate fails or refuses to do so, any other person who is adversely affected by the failure or refusal may petition the circuit court of the county in which the limited partnership's office designated pursuant to SECTI…

S.C. Code Ann. § 33-42-260 Filing in office of Secretary of State

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(a) Two signed copies of the certificate of limited partnership and of any certificates of amendment or cancellation (or of any judicial decree of amendment or cancellation) must be delivered to the Secretary of State. A person who executes a certificate as an agent or fiduciary …

S.C. Code Ann. § 33-42-270 Liability for false statement in certificate

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If any certificate of limited partnership or certificate of amendment or cancellation contains a false statement, one who suffers loss by reliance on the statement may recover damages for the loss from: (1) any person who executes the certificate, or causes another to execute it …

S.C. Code Ann. § 33-42-280 Scope of notice

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The fact that a certificate of limited partnership is on file in the office of the Secretary of State is notice that the partnership is a limited partnership and the persons designated therein as general partners are general partners, but it is not notice of any other fact.

S.C. Code Ann. § 33-42-290 Delivery of certificates to limited partners

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Upon the return by the Secretary of State pursuant to SECTION 33-42-260 of a certificate marked "Filed", the general partners shall promptly deliver or mail a copy of the certificate of limited partnership or the certificate of amendment or cancellation or restated certificate or…

S.C. Code Ann. § 33-42-30 Name

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The name of each limited partnership as set forth in its certificate of limited partnership: (1) shall contain the words "limited partnership" or the abbreviation "LP", or "L.P."; (2) may not contain the name of a limited partner unless (i) it is also the name of a general partne…

S.C. Code Ann. § 33-42-300 Affidavit of general partners' authority

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(a) A limited partnership that owns real property in South Carolina shall, prior to selling, conveying, or transferring any interest in the property, file an affidavit containing the name of the partnership, the place or places where the partnership's certificate of limited partn…

S.C. Code Ann. § 33-42-310 Status of existing county filings

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Certificates of limited partnership and certificates of amendment filed in any official county records of this State pursuant to any applicable statute of this State prior to June 27, 1984, are of no further force or effect for any purpose under this chapter on or after June 27, …

S.C. Code Ann. § 33-42-40 Reservation of name

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(a) The exclusive right to the use of a name may be reserved by: (1) any person intending to organize a limited partnership under this chapter and to adopt that name; (2) any domestic limited partnership or any foreign limited partnership registered in this State which, in either…

S.C. Code Ann. § 33-42-410 Admission of additional limited partners

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(a) A person becomes a limited partner on the later of: (1) the date the original certificate of limited partnership is filed; or (2) the date stated in the records of the limited partnership as the date that person becomes a limited partner. (b) After the filing of a limited par…

S.C. Code Ann. § 33-42-420 Voting

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Subject to SECTION 33-42-430, the partnership agreement may grant to all or a specified group of the limited partners the right to vote (on a per capita or other basis) upon any matter.

S.C. Code Ann. § 33-42-430 Liabilities to third parties

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(a) Except as provided in subsection (d), a limited partner is not liable for the obligations of a limited partnership unless he is also a general partner or, in addition to the exercise of his rights and powers as a limited partner, he takes part in the control of the business. …

S.C. Code Ann. § 33-42-440 Person erroneously believing himself limited partner

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(a) Except as provided in subsection (b), a person who makes a contribution to a business enterprise and erroneously but in good faith believes that he has become a limited partner in the enterprise is not a general partner in the enterprise and is not bound by its obligations by…

S.C. Code Ann. § 33-42-45 Assumed name

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(a) This section rather than SECTIONS 39-13-10 through 39-13-40 of the 1976 Code governs the registration of assumed names of limited partnerships formed or transacting business in South Carolina. (b) A limited partnership that conducts or intends to conduct business in this Stat…

S.C. Code Ann. § 33-42-450 Information

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Each limited partner has the right to: (1) inspect and copy any of the partnership records required to be maintained by SECTION 33-42-60; (2) obtain from the general partners from time to time upon reasonable demand (i) true and full information regarding the state of the busines…

S.C. Code Ann. § 33-42-50 Specified office and agent

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Each limited partnership shall continuously maintain in this State: (1) an office in this State, which may but need not be a place of its business in this State, at which shall be kept the records required by SECTION 33-42-60 to be maintained; (2) an agent for service of process …

S.C. Code Ann. § 33-42-60 Records

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(a) Each limited partnership shall keep at the office referred to in Section 33-42-50(1) the following: (1) a current list of the full name and last known mailing address of each partner separately identifying the general partners (in alphabetical order) and the limited partners …

S.C. Code Ann. § 33-42-610 Admission of additional or substitute general partners

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After the filing of a limited partnership's original certificate of limited partnership, additional or substitute general partners may be admitted as provided in writing in the partnership agreement or, if the partnership agreement does not provide in writing for the admission of…

S.C. Code Ann. § 33-42-620 Events of withdrawal

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Except as approved by the specific written consent of all partners at the time, a person ceases to be a general partner of a limited partnership upon the happening of any of the following events: (1) the general partner withdraws from the limited partnership as provided in SECTIO…

S.C. Code Ann. § 33-42-630 General powers and liabilities

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(a) Except as provided in this chapter or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners. (b) Except as provided in this chapter, a genera…

S.C. Code Ann. § 33-42-640 Contributions by general partner

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A general partner of a limited partnership may make contributions to the partnership and share in the profits and losses of, and in distributions from, the limited partnership as a general partner. A general partner also may make contributions to and share in profits, losses, and…

S.C. Code Ann. § 33-42-650 Voting

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The partnership agreement may grant to all or certain identified general partners the right to vote (on a per capita or any other basis), separately or with all or any class of the limited partners, on any matter.

S.C. Code Ann. § 33-42-70 Nature of business

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A limited partnership may carry on any business that a partnership without limited partners may carry on.

S.C. Code Ann. § 33-42-75 Limited partnerships activities, financial assistance, and duration

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Any manufacturer, brewer, or importer of beer as referenced in Section 61-4-1115, or its affiliate may hold an interest in a limited partnership providing financial assistance to a general partner wholesaler, but may only exercise that control of the limited partnership business …