Nonstockholder members--Liability for debts.

  1. Law
  2. South Dakota Codified Laws
  3. Corporations
  4. Business Development Credit Corporations
  5. Nonstockholder members--Liability for debts.

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47-10-20. Nonstockholder members--Liability for debts.

Nonstockholder members of a business development credit corporation do not assume any liability for the debts of the corporation.

Source: SL 1957, ch 314, §5; SDC Supp 1960, §55.6005 (2) (d).


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