A corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party by reason of being a director of the corporation, against reasonable expenses incurred in connection with the proceeding.
S.D. Codified Laws § 47-1A-852
Mandatory indemnification
Known as the South Dakota Business Corporation Act
The act spans §§ 47-1A-1001–47-1A-957 (383 sections).
Source: SL 2005, ch 239, § 174.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.