South Dakota § 47-34A-1008 Effect of failure to obtain certificate of authority.

South Dakota Statutes

§ 47-34A-1008 — Effect of failure to obtain certificate of authority.

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

(a)A foreign limited liability company transacting business in this state may not maintain an action or proceeding in this state unless it has a certificate of authority to transact business in this state.

(b)The failure of a foreign limited liability company to have a certificate of authority to transact business in this state does not impair the validity of a contract or act of the company or prevent the foreign limited liability company from defending an action or proceeding in this state.

(c)A member or manager of a foreign limited liability company is not liable for the debt, obligations, or other liabilities of the company solely because the company transacted business in that state without a certificate of authority.

(d)If a foreign limited liability company transacts business i

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A foreign limited liability company transacting business in this state may not maintain an action or proceeding in this state unless it has a certificate of authority to transact business in this state. (b) The failure of a foreign limited liability company to have a certificate of authority to transact business in this state does not impair the validity of a contract or act of the company or prevent the foreign limited liability company from defending an action or proceeding in this state. (c) A member or manager of a foreign limited liability company is not liable for the debt, obligations, or other liabilities of the company solely because the company transacted business in that state without a certificate of authority. (d) If a foreign limited liability company transacts business in this state without a certificate of authority or cancels its certificate of authority, it appoints the secretary of state as its agent for service of process for rights of actions arising out of the transaction of business in this state.

South Dakota § 47-34A-1008 (Effect of failure to obtain certificate of authority.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.