This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
South Carolina Deed of Trust Securing Obligations Pursuant to Indemnification Agreement
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Multi-State
Control #:
US-01776BG
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Word;
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How to fill out Deed Of Trust Securing Obligations Pursuant To Indemnification Agreement?
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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.
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.
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.
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.
A South Carolina deed of trust designates a trustee as a property's legal owner until the original owner's (the ?borrower?) debt to a lender is paid. Property conveyed in a deed of trust is returned to the borrower once the loan made via a promissory note is settled.
SECTION 62-7-411. Modification or termination of noncharitable irrevocable trust by consent with court approval.
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.
THIS DEED OF TRUST IS GIVEN TO SECURE: Payment and performance of the Guaranteed Obligations; advances made by Beneficiary to protect the Premises or the lien of this Deed of Trust or to pay taxes, assessments, insurance premiums, and all other amounts that Grantor has agreed to pay pursuant to the provisions hereof; ...