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Nonstockholder members--Payment before dissolution of corporation.

SDCL § 47-10-22
in effect
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47-10-22. Nonstockholder members--Payment before dissolution of corporation. Upon dissolution of a corporation organized under this chapter, obligations due the nonstockholder members are to be paid in full before any payments are made to the stockholder members. SL 1957, ch 314, § 5; SDC Supp 1960, § 55.6005 (2) (f).
Source: South Dakota Legislature (sdlegislature.gov)URL: https://sdlegislature.gov/Statutes/47-10-22Fetched: 10/20/2026

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