South Dakota Codified Laws 47-34A-113. Governing Law
Current as of: 2023 | Check for updates
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The law of this state governs:
(1) The internal affairs of a limited liability company; and
Terms Used In South Dakota Codified Laws 47-34A-113
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Manager: means a person, whether or not a member of a manager-managed company, who is vested with authority under section 301. See South Dakota Codified Laws 47-34A-101
- 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
(2) The liability of a member as member and a manager as manager for the debts, obligations, or other liabilities of a limited liability company.
Source: SL 2013, ch 233, § 4.