South Dakota Statutes
§ 47-1A-732.5 — Agreement not grounds for imposition of personal liability on shareholder for acts or debts of corporation.
South Dakota § 47-1A-732.5
This text of South Dakota § 47-1A-732.5 (Agreement not grounds for imposition of personal liability on shareholder for acts or debts 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 § 47-1A-732.5 (2026).
Text
The existence or performance of an agreement authorized by § 47-1A-732 is not a ground for imposing personal liability on any shareholder for the acts or debts of the corporation even if the agreement or its performance treats the corporation as if it were a partnership or results in failure to observe the corporate formalities otherwise applicable to the matters governed by the agreement.
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Legislative History
SL 2005, ch 239, § 121.
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Repealed§ 47-1-3
Repealed§ 47-10-1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 § 47-1A-732.5, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-1A-732.5.