{"data":{"id":"us-sd/sdcl-47-34a-807","jurisdiction":"us-sd","citation":"SDCL § 47-34A-807","heading":"Known claims against dissolved limited liability company.","body":"(a) A dissolved limited liability company may dispose of the known claims against it by following the procedure described in this section.\n(b) A dissolved limited liability company shall notify its known claimants in writing of the dissolution. The notice must:\n(1) Specify the information required to be included in a claim;\n(2) Provide a mailing address where the claim is to be sent;\n(3) State the deadline for receipt of the claim, which may not be less than one hundred twenty days after the date the written notice is received by the claimant; and\n(4) State that the claim will be barred if not received by the deadline.\n(c) A claim against a dissolved limited liability company is barred if the requirements of subsection (b) are met, and:\n(1) The claim is not received by the specified deadline; or\n(2) In the case of a claim that is timely received but rejected by the dissolved company, the claimant does not commence a proceeding to enforce the claim within ninety days after the receipt of the notice of the rejection.\n(d) For purposes of this section, claim does not include a contingent liability or a claim based on an event occurring after the effective date of dissolution.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-34A. UNIFORM LIMITED LIABILITY COMPANY ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-34A-807","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"b9ad40b0c068196cbff3ad7fae15d02bc545e20ce15eae05620f72b9d44cbf45","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-34a-806","next":"us-sd/sdcl-47-34a-808"},"notice":"GroundRules: Original legal text. Not legal advice."}