{"data":{"id":"us-sd/sdcl-47-1a-833.1","jurisdiction":"us-sd","citation":"SDCL § 47-1A-833.1","heading":"Contribution or recoupment--Limitation of action.","body":"A director held liable under § 47-1A-833 for an unlawful distribution is entitled to:\n(1) Contribution from every other director who could be held liable under § 47-1A-833 for the unlawful distribution; and\n(2) Recoupment from each shareholder of the pro-rata portion of the amount of the unlawful distribution the shareholder accepted, knowing the distribution was made in violation of § 47-1A-640 or 47-1A-1409.\nA proceeding to enforce contribution or recoupment under this section is barred unless it is commenced within one year after the liability of the claimant has been finally adjudicated under § 47-1A-833.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-1A. SOUTH DAKOTA BUSINESS CORPORATION ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-1A-833.1","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"29b74cb9c964d4c84680a02d3f526eb6f82eedca252a2a5603e1b660cf5f492d","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-1a-833","next":"us-sd/sdcl-47-1a-840"},"notice":"GroundRules: Original legal text. Not legal advice."}