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S.D. Codified Laws § 47-34A-410

Actions by members

Known as the South Dakota Limited Liability Company Act

The act spans §§ 47-34A-1001 to 47-34A-915 (113 sections).

Applied in 1 court decision — leading case MacH v. Connors (2022)

Most recently applied in MacH v. Connors (August 2022)

Source: SL 1998, ch 272, § 410.

(a) A member may maintain an action against a limited liability company or another member for legal or equitable relief, with or without an accounting as to the company's business, to enforce:

(1) The member's rights under the operating agreement;

(2) The member's rights under this chapter; and

(3) The rights and otherwise protect the interests of the member, including rights and interests arising independently of the member's relationship to the company.

(b) The accrual, and any time limited for the assertion, of a right of action for a remedy under this section is governed by other law. A right to an accounting upon a dissolution and winding up does not revive a claim barred by law.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.