A limited liability company is liable for loss or injury caused to a person, or for a penalty incurred, as a result of a wrongful act or omission, or other actionable conduct, of a member or manager acting in the ordinary course of business of the company or with authority of the company.
S.D. Codified Laws § 47-34A-302
Limited liability company liable for member's or manager's actionable conduct
Known as the South Dakota Limited Liability Company Act
The act spans §§ 47-34A-1001–47-34A-915 (113 sections).
Applied in 1 court decision — leading case Ruschenberg v. Eliason (2014)
Most recently applied in Ruschenberg v. Eliason (July 2014)
Source: SL 1998, ch 272, § 302.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.