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Circumstances under which ultra vires may be asserted--Actions by corporation against officers or directors.

SDCL § 47-22-71
in effect
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47-22-71. Circumstances under which ultra vires may be asserted--Actions by corporation against officers or directors. Notwithstanding § 47-22-69, the fact that a corporation was without capacity or power to do an act or to make or receive a conveyance or transfer of real or personal property may be asserted in a proceeding by the corporation, whether acting directly or through a receiver, trustee, or other legal representative, or through members in a representative suit, against the officers or directors of the corporation for exceeding their authority. SL 1965, ch 24, § 6 (2).
Source: South Dakota Legislature (sdlegislature.gov)URL: https://sdlegislature.gov/Statutes/47-22-71Fetched: 10/20/2026

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