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

SDCL § 47-34A-405: Sharing of and right to distributions.

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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) 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.

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

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