South Dakota § 47-34A-1102 - Derivative action.
Full text of South Dakota South Dakota Codified Laws § 47-34A-1102 — Derivative action., with citation guidance and answers to common questions.
§ 47-34A-1102. Derivative action.
A member may maintain a derivative action to enforce a right of a limited liability company if:
(1) The member first makes a demand on the other members in a member-managed limited liability company, or the managers of a manager-managed limited liability company, requesting that they cause the company to bring an action to enforce the right, and the managers or other members do not bring the action within a reasonable time; or
(2) A demand under paragraph (1) would be futile.
Source: SL 1998, ch 272, § 1102; SL 2013, ch 233, § 40.
Frequently Asked Questions About South Dakota § 47-34A-1102
What does South Dakota Codified Laws § 47-34A-1102 cover?
Section 47-34A-1102 ("Derivative action.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 47-34A-1102?
A common citation format is "South Dakota Codified Laws § 47-34A-1102" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 47-34A-1102 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.