South Dakota Statutes
§ 47-34A-1102 — Derivative action.
South Dakota § 47-34A-1102
This text of South Dakota § 47-34A-1102 (Derivative action.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.D. Codified Laws § 47-34A-1102 (2026).
Text
A member may maintain a derivative action to enforce a right of a limited liability company if:
(1)The member first makes a demand on the other members in a member-managed limited liability company, or the managers of a manager-managed limited liability company, requesting that they cause the company to bring an action to enforce the right, and the managers or other members do not bring the action within a reasonable time; or (2) A demand under paragraph (1) would be futile.
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Legislative History
SL 1998, ch 272, § 1102; SL 2013, ch 233, § 40.
Nearby Sections
15
§ 47-1-1
Repealed§ 47-1-3
Repealed§ 47-10-1
Purposes of corporations.§ 47-10-10
Incorporators.§ 47-10-11
Directors--Number and term of office.§ 47-10-13
Accumulation of surplus--Use of surplus.§ 47-10-14
Persons authorized to hold common stock.§ 47-10-18
Nonstockholder members--Duty to lend.§ 47-10-2
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Bluebook (online)
South Dakota § 47-34A-1102, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-34A-1102.