{"data":{"id":"us-sd/sdcl-47-1a-640.3","jurisdiction":"us-sd","citation":"SDCL § 47-1A-640.3","heading":"Indebtedness to shareholder by reason of distribution at parity with indebtedness to general unsecured creditor.","body":"A corporation's indebtedness to a shareholder incurred by reason of a distribution made in accordance with §§ 47-1A-640 to 47-1A-640.5, inclusive, is at parity with the corporation's indebtedness to its general, unsecured creditors except to the extent subordinated by agreement.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-1A. SOUTH DAKOTA BUSINESS CORPORATION ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-1A-640.3","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"2c6d7117eda3bd387af76d43f5af81911c66e61210056b01810f024e84d32742","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-1a-640.2","next":"us-sd/sdcl-47-1a-640.4"},"notice":"GroundRules: Original legal text. Not legal advice."}