The appointment of an officer does not itself create contract rights. An officer's removal does not affect the officer's contract rights, if any, with the corporation. An officer's resignation does not affect the corporation's contract rights, if any, with the officer.
S.D. Codified Laws § 47-1A-844
Contract rights of officers
Known as the South Dakota Business Corporation Act
The act spans §§ 47-1A-1001–47-1A-957 (383 sections).
Source: SL 2005, ch 239, § 170.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.