South Dakota now allows limited liability companies to create internal "series" that operate somewhat independently, with each series having its own separate members, managers, or financial interests tied to specific property or business purposes. Importantly, debts and liabilities of one series are only enforceable against that series' assets—not against the main company's assets or other series' assets—as long as the company maintains separate records and accounting for each series. This structure gives business owners more flexibility in how they organize and isolate financial risks within a single LLC.
Signed by the Governor H.J. 629
Delivered to the Governor H.J. 538
Signed by the President S.J. 470
Signed by the Speaker H.J. 498
Senate Do Pass Passed, YEAS 30, NAYS 4. S.J. 419
Commerce and Energy Do Pass Passed, YEAS 6, NAYS 1.
Commerce and Energy Scheduled for hearing
First read in Senate and referred to Senate Commerce and Energy S.J. 355
House of Representatives Do Pass Passed, YEAS 68, NAYS 0. H.J. 389
House of Representatives Removed from Consent Calendar
Judiciary Certified uncontested, placed on consent
Judiciary Do Pass Passed, YEAS 12, NAYS 0.
Judiciary Scheduled for hearing
House of Representatives Referred to House Judiciary H.J. 117
First Reading House H.J. 98
Jon Hansen
Prime sponsor · Rep.
R
Lee Schoenbeck
Prime sponsor · Sen.
R
Cosponsors
Do Pass
Commerce and Energy — Do Pass
Do Pass
Judiciary — Do Pass