South Carolina Agreement for Sale of all Rights, Title and Interest in Limited Liability Company LLC

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..with Payment of Cash and Promissory Note and with Life Insurance Policy to Cover Buyer's Life with Limited Liability Company to be Beneficiary



A distributional interest in a limited liability company is personal property and may be transferred in whole or in part. The following form is a agreement whereby the sole member of the LLC transfers his 100% interest as such member to another party.

Title: South Carolina Agreement for Sale of all Rights, Title, and Interest in Limited Liability Company (LLC): Explained Introduction: The South Carolina Agreement for Sale of all Rights, Title, and Interest in Limited Liability Company (LLC) is a legal document used when a party wishes to transfer their ownership rights, title, and interest in a South Carolina LLC to another party. This detailed description will cover different types of the agreement and highlight relevant keywords. 1. South Carolina LLC: In South Carolina, a Limited Liability Company (LLC) is a popular business structure that combines the advantages of a corporation and a partnership. It provides flexibility, limited liability protection, and pass-through taxation. It is governed by the South Carolina Uniform Limited Liability Company Act. 2. Agreement for Sale of all Rights, Title, and Interest: This agreement is a legally binding contract between a current member (seller) of an LLC and a prospective buyer. The seller agrees to sell and transfer all their rights, title, and interest in the South Carolina LLC to the buyer. 3. Relevant Keywords: — South Carolina LLC: Refers to the specific jurisdiction where the LLC is registered and operates. — Agreement for Sale: Represents the contractual document that establishes the terms and conditions of the sale. — Rights: Refers to the various legal entitlements, privileges, and powers associated with LLC ownership, including decision-making, management, and financial rights. — Title: Implies legal ownership of the LLC and its assets. — Interest: Represents the ownership percentage or share in the LLC, dictating profit distribution and decision-making powers. Different Types of South Carolina Agreement for Sale of all Rights, Title, and Interest in Limited Liability Company LLC: 1. Outright Purchase Agreement: This type of agreement occurs when the seller transfers all their rights, title, and interest in the LLC to the buyer for a specified purchase price. The buyer assumes complete ownership of the LLC and its assets. 2. Partial Purchase Agreement: In cases where the seller wishes to sell only a portion of their rights, title, and interest in the LLC, a partial purchase agreement is used. Specific terms outlining the percentage or share being sold and the corresponding purchase price are defined. 3. Installment Purchase Agreement: When the buyer needs to make payments for the purchase over multiple installments, an installment purchase agreement is utilized. It involves a structured payment plan, detailing the amount, frequency, and timeline for installment payments. 4. Asset Purchase Agreement: Sometimes, the seller may wish to sell only specific assets owned by the LLC instead of the entire business entity. In such cases, an Asset Purchase Agreement is formulated, clearly listing the assets included in the sale. Conclusion: The South Carolina Agreement for Sale of all Rights, Title, and Interest in Limited Liability Company LLC is a crucial legal document governing the transfer of ownership rights in an LLC. Understanding the different types of such agreements is essential to ensure a smooth and legally sound transaction. Professional legal advice is always recommended drafting or review such agreements to protect the interests of all parties involved.

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  • Preview Agreement for Sale of all Rights, Title and Interest in Limited Liability Company LLC
  • Preview Agreement for Sale of all Rights, Title and Interest in Limited Liability Company LLC
  • Preview Agreement for Sale of all Rights, Title and Interest in Limited Liability Company LLC
  • Preview Agreement for Sale of all Rights, Title and Interest in Limited Liability Company LLC
  • Preview Agreement for Sale of all Rights, Title and Interest in Limited Liability Company LLC

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Title 33 - Corporations, Partnerships and Associations. Chapter 44 - UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996. Section 33-44-1002 - Application for certificate of authority. (8) whether the members of the company are to be liable for its debts and obligations under a provision similar to Section 33-44-303(c).

SECTION 33-44-111. Service of process. (a) An agent for service of process appointed by a limited liability company or a foreign limited liability company is an agent of the company for service of any process, notice, or demand required or permitted by law to be served upon the company.

SECTION 33-44-111. Service of process. (a) An agent for service of process appointed by a limited liability company or a foreign limited liability company is an agent of the company for service of any process, notice, or demand required or permitted by law to be served upon the company.

Chapter 44 - Uniform Limited Liability Company Act Of 1996. Section 33-44-202. 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.

Under S.C. Code Ann. § 33-44-504(b), a court may order a foreclosure of the charging lien. At any time prior to the foreclosure sale, the debtor or another member may ?redeem? the distributional interest by paying the amount due to the judgment creditor.

"Section 33-44-303. (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.

4. Prepare an Operating Agreement. An LLC operating agreement is not required in South Carolina, but is highly advisable. This is an internal document that establishes how your LLC will be run.

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.

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(6) "Distributional interest" means all of a member's interest in distributions by the limited liability company. (7) "Entity" means a person other than an ... ... ownership in a South Carolina limited liability company (LLC), the ... Yes, LLC members do have the right to sell their individual interests in the business., a South Carolina corporation (the “Company”) and TNH ACQUISITION, LLC, a Georgia limited liability company (“Purchaser”). WITNESSETH: WHEREAS, the ... (g) All of Seller's right, title and interest in and to: the telephone numbers ... BVC LANCER LLC, a South Carolina limited liability. company. By: /s/ Jeffrey ... Oct 25, 2022 — by and between Chick-Fil-A Supply, LLC, a Georgia limited liability company (“Purchaser”) and ... any interpleader action which Title Company may ... Mar 24, 2022 — Until such time as admittance as a member or buy out, the owner of an interest in the entity, she retains a right to receive information (e.g. ... ... a natural person or any corporation, limited liability company, ... (“Purchaser ”), and NEXSEN PRUET, LLC, a South Carolina limited liability company (“Escrow. The agreement also includes financial information related to the company such as ownership interest, initial loans, capital contributions, and any other records ... Sep 18, 2020 — LLC to purchase the members "distributional interest" for "fair value." • To avoid a creditor buyout all limited liability companies, with a ... Aug 21, 2020 — A. The Members have formed the Company as a South Carolina limited liability company under the South Carolina Uniform Limited Liability ...

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South Carolina Agreement for Sale of all Rights, Title and Interest in Limited Liability Company LLC