Statutes > South Dakota Statutes > Title 47 - CORPORATIONS > Chapter 10 - Business Development Credit Corporations > Section 47-10-20 - Nonstockholder members--Liability for debts.

Section 47-10-20 - Nonstockholder members--Liability for debts.

47-10-20. Nonstockholder members--Liability for debts. Nonstockholder members of a business development credit corporation do not assume any liability for the debts of the corporation.

Source: SL 1957, ch 314, § 5; SDC Supp 1960, § 55.6005 (2) (d).