South Dakota § 3-13-52 Limitation of liability to participants.

South Dakota Statutes

§ 3-13-52 — Limitation of liability to participants.

South Dakota § 3-13-52

Title 3PUBLIC OFFICERS AND EMPLOYEES

Ch. 3-12BDEFERRED COMPENSATION PLAN FOR PUBLIC EMPLOYEES

This text of South Dakota § 3-13-52 (Limitation of liability to participants.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 3-13-52 (2026).

Text

Neither the plan nor any participating employer may have any liability to any participant for losses arising out of any decrease in the value of any investments held by the plan. The liability of the plan to any participant is limited to the value of the participant's account on the date the account is made available to the participant pursuant to the provisions of the plan. In no event may any member of the board, the executive director or any member of the executive director's staff have any liability for any action taken with respect to the plan unless such action be taken in bad faith.

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Neither the plan nor any participating employer may have any liability to any participant for losses arising out of any decrease in the value of any investments held by the plan. The liability of the plan to any participant is limited to the value of the participant's account on the date the account is made available to the participant pursuant to the provisions of the plan. In no event may any member of the board, the executive director or any member of the executive director's staff have any liability for any action taken with respect to the plan unless such action be taken in bad faith.