Any person purporting to act as or on behalf of a corporation, knowing there was no incorporation under this chapter, is jointly and severally liable for all liabilities created while so acting.
S.D. Codified Laws § 47-1A-204
Liability for pre-incorporation transactions
Known as the South Dakota Business Corporation Act
The act spans §§ 47-1A-1001 to 47-1A-957 (383 sections).
Source: SL 2005, ch 239, § 33.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.