South Dakota Statutes
§ 47-17-23 — Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding.
South Dakota § 47-17-23
JurisdictionSouth Dakota
Title 47CORPORATIONS
Ch. 47-14BCOOPERATIVES--DIRECTORS, OFFICERS AND EMPLOYEES
This text of South Dakota § 47-17-23 (Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding.) 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 § 47-17-23 (2026).
Text
A cooperative shall indemnify a director, officer, agent, or employee who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director, officer, agent, or employee was a party by reason of being a director, officer, agent, or employee of the cooperative, against reasonable expenses incurred in connection with the proceeding.
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Legislative History
SL 2007, ch 260, § 6; SL 2009, ch 232, § 6.
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Repealed§ 47-1-3
Repealed§ 47-10-1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 § 47-17-23, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-17-23.