If a derivative action for a limited liability company 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 shall direct the plaintiff to remit to the limited liability company the remainder of the proceeds received.
S.C. Code Ann. § 33-44-1104
Expenses
Known as the South Carolina Uniform Limited Liability Company Act
The act spans §§ 33–33 (94 sections).
Applied in 2 court decisions — leading case Historic Charleston Holdings, LLC v. Mallon (2009)
Most recently applied in Historic Charleston Holdings, LLC v. Mallon (February 2009)
1996 Act No. 343, SECTION 2.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.