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2020 South Dakota Codified Laws
Title 47 - Corporations
Chapter 01A - South Dakota Business Corporation Act
Section 47-1A-830 - Standards of conduct for directors.
Universal Citation:
SD Codified L § 47-1A-830 (2020)
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47-1A-830. Standards of conduct for directors.
Each member of the board of directors, when discharging the duties of a director, shall act in good faith and in a manner the director reasonably believes to be in the best interests of the corporation. The members of the board of directors or a committee of the board, when becoming informed in connection with their decision-making function or devoting attention to their oversight function, shall discharge their duties with the care that a person in a like position would reasonably believe appropriate under similar circumstances.
Source: SL 2005, ch 239, ยง157.
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