All persons who assume to act as a corporation without authority so to do shall be jointly and severally liable for all debts and liabilities incurred or arising as a result thereof.
S.D. Codified Laws § 47-22-73
Unauthorized acting as corporation--Liability
Known as the South Dakota Nonprofit Corporation Act
The act spans §§ 47–47 (90 sections).
Source: SL 1965, ch 24, § 98.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.