All calls of funds which nonstockholder members of a business development credit corporation are committed to lend to the corporation shall be prorated by the corporation among the nonstockholder members in the same proportion that the individual lines of credit bear to the aggregate line of credit.
S.D. Codified Laws § 47-10-18
Nonstockholder members--Duty to lend
Source: SL 1957, ch 314, § 5; SDC Supp 1960, § 55.6005 (2) (b).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.