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§ 47-34a-405 — South Dakota Law | CourtGPT
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  5. Chapter 34a - Uniform Limited Liability Company Act/
  6. § 47-34a-405
South Dakota Legal Code

§ 47-34a-405

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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. Source: SL 1998, ch 272, §405.