South Dakota § 47-34A-410 Actions by members.

South Dakota Statutes

§ 47-34A-410 — Actions by members.

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

(a)A member may maintain an action against a limited liability company or another member for legal or equitable relief, with or without an accounting as to the company's business, to enforce:

(1)The member's rights under the operating agreement;

(2)The member's rights under this chapter; and (3) The rights and otherwise protect the interests of the member, including rights and interests arising independently of the member's relationship to the company.

(b)The accrual, and any time limited for the assertion, of a right of action for a remedy under this section is governed by other law. A right to an accounting upon a dissolution and winding up does not revive a claim barred by law.

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(a) A member may maintain an action against a limited liability company or another member for legal or equitable relief, with or without an accounting as to the company's business, to enforce: (1) The member's rights under the operating agreement; (2) The member's rights under this chapter; and (3) The rights and otherwise protect the interests of the member, including rights and interests arising independently of the member's relationship to the company. (b) The accrual, and any time limited for the assertion, of a right of action for a remedy under this section is governed by other law. A right to an accounting upon a dissolution and winding up does not revive a claim barred by law.

South Dakota § 47-34A-410 (Actions by members.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.