South Dakota § 47-34A-501 Member's distributional interest.

South Dakota Statutes

§ 47-34A-501 — Member's distributional interest.

South Dakota § 47-34A-501

Title 47CORPORATIONS

Ch. 47-34UNIFORM LIMITED LIABILITY COMPANY ACT

This text of South Dakota § 47-34A-501 (Member's distributional interest.) 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-501 (2026).

Text

(a)A member is not a co - owner of, and has no transferable interest in, property of a limited liability company.

(b)A distributional interest in a limited liability company is personal property and, subject to § 47-34A-502 and § 47-34A-503 , may be transferred in whole or in part.

(c)An operating agreement may provide that a distributional interest may be evidenced by a certificate of the interest issued by the limited liability company and, subject to § 47-34A-503 , may also provide for the transfer of any interest represented by the certificate.

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(a) A member is not a co - owner of, and has no transferable interest in, property of a limited liability company. (b) A distributional interest in a limited liability company is personal property and, subject to § 47-34A-502 and § 47-34A-503 , may be transferred in whole or in part. (c) An operating agreement may provide that a distributional interest may be evidenced by a certificate of the interest issued by the limited liability company and, subject to § 47-34A-503 , may also provide for the transfer of any interest represented by the certificate.