Nonstockholder members of a business development credit corporation do not assume any liability for the debts of the corporation.
S.D. Codified Laws § 47-10-20
Nonstockholder members--Liability for debts
Source: SL 1957, ch 314, § 5; SDC Supp 1960, § 55.6005 (2) (d).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.