South Dakota Codified Laws 47-34A-1103. Proper plaintiff
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(a) Except as otherwise provided in subsection (b), a derivative action under § 47-34A-1102 may be maintained only by a person that is a member at the time the action is commenced and remains a member while the action continues.
(b) If the sole plaintiff in a derivative action dies while the action is pending, the court may permit another member of the limited liability company to be substituted as plaintiff.
Terms Used In South Dakota Codified Laws 47-34A-1103
- Member: means a person that:
(A) Prior to formation of the limited liability company, becomes a member as agreed by that person and the organizer of the limited liability company. See South Dakota Codified Laws 47-34A-101
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Plaintiff: The person who files the complaint in a civil lawsuit.
Source: SL 1998, ch 272, § 1103; SL 2013, ch 233, § 41.