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Form a Business

Nonstockholder members--Liability for debts.

SDCL § 47-10-20
in effect
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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. SL 1957, ch 314, § 5; SDC Supp 1960, § 55.6005 (2) (d).
Source: South Dakota Legislature (sdlegislature.gov)URL: https://sdlegislature.gov/Statutes/47-10-20Fetched: 10/20/2026

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