South Dakota · Through 2026-08-31 · Newer source version available

SDCL § 47-24-5: Loans to directors or officers--Liability for assenting to loan.

Where this section sits in the code

TITLE 47. CORPORATIONS
CHAPTER 47-24. NONPROFIT CORPORATIONS--RECORDS, FISCAL AFFAIRS AND REPORTS

No loans shall be made by a corporation to its directors or officers. Any director or officer who assents to or participates in the making of any such loan shall be liable to the corporation for the amount of such loan until the repayment thereof.

Collected 2026-09-03T15:18:57Z. Source file · JSON

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