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 § 47-34A-405

Title 47CORPORATIONS

Ch. 47-34UNIFORM LIMITED LIABILITY COMPANY ACT

This text of South Dakota § 47-34A-405 (Sharing of and right to distributions.) 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-405 (2026).

Text

(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.