{"data":{"id":"us-sd/sdcl-47-17-7","jurisdiction":"us-sd","citation":"SDCL § 47-17-7","heading":"Liability of directors for improper distribution of assets.","body":"Directors of cooperatives who negligently or in bad faith vote for any distribution of assets contrary to chapters 47-15 to 47-20, inclusive, or the articles are jointly and severally liable to the cooperative for the value of assets distributed in excess of the amount which could have been distributed without violating said chapters or the articles.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-17. COOPERATIVES--DIRECTORS, OFFICERS AND EMPLOYEES"],"source_url":"https://sdlegislature.gov/Statutes/47-17-7","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"941c57b5b950d8fcc5f72f8bfb530f2d3553ec0a2b6f6ed8140c00c8adbc00d2","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-17-6","next":"us-sd/sdcl-47-17-7.1"},"notice":"GroundRules: Original legal text. Not legal advice."}