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South Dakota · Through 2026-08-31 · Newer source version available

SDCL § 47-34A-1102: Derivative action.

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Where this section sits in the code
  1. TITLE 47. CORPORATIONS
  2. CHAPTER 47-34A. UNIFORM LIMITED LIABILITY COMPANY ACT

A member may maintain a derivative action to enforce a right of a limited liability company if:

(1) The member first makes a demand on the other members in a member-managed limited liability company, or the managers of a manager-managed limited liability company, requesting that they cause the company to bring an action to enforce the right, and the managers or other members do not bring the action within a reasonable time; or

(2) A demand under paragraph (1) would be futile.

Collected 2026-09-03T15:18:57Z. Source file · JSON

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