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2019 South Dakota Codified Laws
Title 47 - Corporations
Chapter 10 - Business Development Credit Corporations
§ 47-10-18 Nonstockholder members--Duty to lend.
Universal Citation: SD Codified L § 47-10-18 (2019)
47-10-18. Nonstockholder members--Duty to lend. All calls of funds which nonstockholder members of a business development credit corporation are committed to lend to the corporation shall be prorated by the corporation among the nonstockholder members in the same proportion that the individual lines of credit bear to the aggregate line of credit.
Source: SL 1957, ch 314, § 5; SDC Supp 1960, § 55.6005 (2) (b).
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