South Dakota § 47-34A-405 Sharing of and right to distributions.

South Dakota Statutes

§ 47-34A-405 — Sharing of and right to distributions.

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

(a)Any distributions made by a limited liability company before its dissolution and winding up must be in equal shares.

(b)A member has no right to receive, and may not be required to accept, a distribution in kind.

(c)If a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution.

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(a) Any distributions made by a limited liability company before its dissolution and winding up must be in equal shares. (b) A member has no right to receive, and may not be required to accept, a distribution in kind. (c) If a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution.

South Dakota § 47-34A-405 (Sharing of and right to distributions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.