S.D. Codified Laws § 47-34A-405

Current through the 2024 Legislative Session
Section 47-34A-405 - Sharing of and right to distributions
(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.

SDCL 47-34A-405

SL 1998, ch 272, §405.