At Least For Not, We Don’t Know

At Least For Not, We Don’t Know

As discussed earlier this year, a question of interpretation of the South Dakota LLC Act was certified to the South Dakota Supreme Court, that question arising out of SDIF Limited Partnership II v. Tentexkota, LLC. HERE IS A LINK to that prior review.

As presented to the South Dakota Supreme Court, the certified question involved whether the grant of limited liability to the members of an LLC could preclude the enforcement of certain personal guarantees given by members for company indebtedness.

The question, at least for the time being, will not be answered. The case settled, and the Federal District Court that had certified the question has dismissed it. On that basis, the South Dakota Supreme Court deemed the certified question moot and set it aside. SDIF Ltd. Partnership II this Tentexkota, LLC, Order Rendering Certification Moot, South Dakota Supreme Court, File No. 1:17-CV 1002-CVK, # 28825 (Aug. 27, 2019).