South Dakota § 47-34A-1001 Law governing foreign limited liability companies.

South Dakota Statutes

§ 47-34A-1001 — Law governing foreign limited liability companies.

South Dakota·Title 47 CORPORATIONS·Ch. 47-34 UNIFORM LIMITED LIABILITY COMPANY ACT

(a)The law of the state or other jurisdiction under which a foreign limited liability company is formed governs:

(1)The internal affairs of the company; and (2) The liability of a member as member and a manager as manager for the debts, obligations, or other liabilities of the company.

(b)A foreign limited liability company may not be denied a certificate of authority by reason of any difference between the law of the jurisdiction under which the company is formed and the law of this state.

(c)A certificate of authority does not authorize a foreign limited liability company to engage in any business or exercise any power that a limited liability company may not engage in or exercise in this state.

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(a) The law of the state or other jurisdiction under which a foreign limited liability company is formed governs: (1) The internal affairs of the company; and (2) The liability of a member as member and a manager as manager for the debts, obligations, or other liabilities of the company. (b) A foreign limited liability company may not be denied a certificate of authority by reason of any difference between the law of the jurisdiction under which the company is formed and the law of this state. (c) A certificate of authority does not authorize a foreign limited liability company to engage in any business or exercise any power that a limited liability company may not engage in or exercise in this state.

South Dakota § 47-34A-1001 (Law governing foreign limited liability companies.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.