South Dakota Statutes
§ 47-1A-830 — Standards of conduct for directors.
Each member of the board of directors, when discharging the duties of a director, shall act in good faith and in a manner the director reasonably believes to be in the best interests of the corporation. The members of the board of directors or a committee of the board, when becoming informed in connection with their decision-making function or devoting attention to their oversight function, shall discharge their duties with the care that a person in a like position would reasonably believe appropriate under similar circumstances.
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South Dakota § 47-1A-830 (Standards of conduct for directors.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Lindskov v. Lindskov
2011 S.D. 34 (South Dakota Supreme Court, 2011)
Schultz v. Scandrett
2015 SD 52 (South Dakota Supreme Court, 2015)
Legislative History
SL 2005, ch 239, § 157.
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Repealed§ 47-1-3
Repealed§ 47-10-1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
Powers of corporations.