{"data":{"id":"us-sd/sdcl-47-34a-501","jurisdiction":"us-sd","citation":"SDCL § 47-34A-501","heading":"Member's distributional interest.","body":"(a) A member is not a co-owner of, and has no transferable interest in, property of a limited liability company.\n(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.\n(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.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-34A. UNIFORM LIMITED LIABILITY COMPANY ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-34A-501","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"72b7f24628f6ac9fba068fab923b8d7c9ad4dbbc2b7357d5aae705a3ce0fb09a","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-34a-411","next":"us-sd/sdcl-47-34a-502"},"notice":"GroundRules: Original legal text. Not legal advice."}