There is a newer version
of
this Section
2021 South Dakota Codified Laws
Title 47 - Corporations
Chapter 24 - Nonprofit Corporations Records, Fiscal Affairs And Reports
Section 47-24-5 - Loans to directors or officers--Liability for assenting to loan.
Universal Citation: SD Codified L § 47-24-5 (2021)
47-24-5. Loans to directors or officers--Liability for assenting to loan.
No loans shall be made by a corporation to its directors or officers. Any director or officer who assents to or participates in the making of any such loan shall be liable to the corporation for the amount of such loan until the repayment thereof.
Source: SL 1965, ch 24, ยง29.
Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
