{"data":{"id":"us-sd/sdcl-47-1a-732.5","jurisdiction":"us-sd","citation":"SDCL § 47-1A-732.5","heading":"Agreement not grounds for imposition of personal liability on shareholder for acts or debts of corporation.","body":"The existence or performance of an agreement authorized by § 47-1A-732 is not a ground for imposing personal liability on any shareholder for the acts or debts of the corporation even if the agreement or its performance treats the corporation as if it were a partnership or results in failure to observe the corporate formalities otherwise applicable to the matters governed by the agreement.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-1A. SOUTH DAKOTA BUSINESS CORPORATION ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-1A-732.5","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"bdd12b506383d155cb2f2dbe2cf456d61aca2f8a5467f791e08dc69098d4dc94","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-1a-732.4","next":"us-sd/sdcl-47-1a-732.6"},"notice":"GroundRules: Original legal text. Not legal advice."}