South Dakota § 47-10-19 Nonstockholder members--Right to withdraw--Conditions.

South Dakota Statutes

§ 47-10-19 — Nonstockholder members--Right to withdraw--Conditions.

South Dakota § 47-10-19

Title 47CORPORATIONS

Ch. 47-10BUSINESS DEVELOPMENT CREDIT CORPORATIONS

This text of South Dakota § 47-10-19 (Nonstockholder members--Right to withdraw--Conditions.) 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 § 47-10-19 (2026).

Text

Upon written notice given sixty days in advance, a nonstockholder member of a business development credit corporation may withdraw from such membership at the expiration date of such notice and after said expiration date shall cease to exercise any of the powers and privileges incidental to such membership and shall be free of any obligations in connection therewith except those obligations which have accrued or for which commitments have been made before said expiration date.

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Upon written notice given sixty days in advance, a nonstockholder member of a business development credit corporation may withdraw from such membership at the expiration date of such notice and after said expiration date shall cease to exercise any of the powers and privileges incidental to such membership and shall be free of any obligations in connection therewith except those obligations which have accrued or for which commitments have been made before said expiration date.