South Dakota Statutes
§ 47-10-18 — Nonstockholder members--Duty to lend.
South Dakota § 47-10-18
This text of South Dakota § 47-10-18 (Nonstockholder members--Duty to lend.) 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 § 47-10-18 (2026).
Text
All calls of funds which nonstockholder members of a business development credit corporation are committed to lend to the corporation shall be prorated by the corporation among the nonstockholder members in the same proportion that the individual lines of credit bear to the aggregate line of credit.
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Legislative History
SL 1957, ch 314, § 5; SDC Supp 1960, § 55.6005 (2) (b).
Nearby Sections
15
§ 47-1-1
Repealed§ 47-1-3
Repealed§ 47-10-1
Purposes of corporations.§ 47-10-10
Incorporators.§ 47-10-11
Directors--Number and term of office.§ 47-10-13
Accumulation of surplus--Use of surplus.§ 47-10-14
Persons authorized to hold common stock.§ 47-10-18
Nonstockholder members--Duty to lend.§ 47-10-2
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Bluebook (online)
South Dakota § 47-10-18, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-10-18.