Nonstockholder members--Right to share in surplus.

  1. Law
  2. South Dakota Codified Laws
  3. Corporations
  4. Business Development Credit Corporations
  5. Nonstockholder members--Right to share in surplus.

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47-10-21. Nonstockholder members--Right to share in surplus.

Nonstockholder members of a business development credit corporation shall not share in any surplus of the corporation in excess of the obligations due such nonstockholder members.

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


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