South Dakota Statutes
§ 47-34A-701 — Series of members, managers, or limited liability company interests permitted.
An operating agreement may establish or provide for the establishment of a series of members, managers, or limited liability company interests having separate rights, powers, or duties with respect to specified property or obligations of the limited liability company or profits and losses associated with specified property or obligations. To the extent provided in the operating agreement, any such series may have a separate business purpose or investment objective.
Free access — add to your briefcase to read the full text and ask questions with AI
South Dakota § 47-34A-701 (Series of members, managers, or limited liability company interests permitted.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2020, ch 200, § 1, eff. Nov. 15, 2020.
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Repealed§ 47-1-3
Repealed§ 47-10-1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
Powers of corporations.