South Dakota Statutes
§ 47-10-22 — Nonstockholder members--Payment before dissolution of corporation.
South Dakota § 47-10-22
This text of South Dakota § 47-10-22 (Nonstockholder members--Payment before dissolution of corporation.) 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 § 47-10-22 (2026).
Text
Upon dissolution of a corporation organized under this chapter, obligations due the nonstockholder members are to be paid in full before any payments are made to the stockholder members.
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Legislative History
SL 1957, ch 314, § 5; SDC Supp 1960, § 55.6005 (2) (f).
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Repealed§ 47-1-3
Repealed§ 47-10-1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 § 47-10-22, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-10-22.