{"data":{"id":"us-sd/sdcl-47-34a-303","jurisdiction":"us-sd","citation":"SDCL § 47-34A-303","heading":"Liability of members and managers.","body":"(a) A debt, obligation, or other liability of a limited liability company is solely the debt, obligation, or other liability of the company. A member or manager is not personally liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or liability of the company solely by reason of being or acting as a member or manager. This subsection applies regardless of the dissolution of the company.\n(b) The failure of a limited liability company to observe formalities relating to the exercise of its powers or management of its activities and affairs is not a ground for imposing liability on a member or manager for a debt, obligation, or other liability of the company.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-34A. UNIFORM LIMITED LIABILITY COMPANY ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-34A-303","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"a5a50d7b77288ea58c5ad0926d3e74030f07a59c061db1276a7e780ee4e1acc4","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-34a-302","next":"us-sd/sdcl-47-34a-401"},"notice":"GroundRules: Original legal text. Not legal advice."}