Sections 55-8-13 and 55-8-14 do not impose any liability upon the corporation or its transfer agent.
S.D. Codified Laws § 55-8-15
Corporation and transfer agent not liable for breach of fiduciary duty or on guarantee of fiduciary's signature
Known as the Uniform Act
The act spans §§ 55–55 (18 sections).
Source: SL 1961, ch 22, § 7 (3).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.