South Dakota § 47-22-71 Circumstances under which ultra vires may be asserted--Actions by corporation against officers or directors.

South Dakota Statutes

§ 47-22-71 — Circumstances under which ultra vires may be asserted--Actions by corporation against officers or directors.

South Dakota § 47-22-71

Title 47CORPORATIONS

Ch. 47-22NONPROFIT CORPORATIONS--FORMATION AND GENERAL POWERS

This text of South Dakota § 47-22-71 (Circumstances under which ultra vires may be asserted--Actions by corporation against officers or directors.) 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 § 47-22-71 (2026).

Text

Notwithstanding § 47-22-69 , the fact that a corporation was without capacity or power to do an act or to make or receive a conveyance or transfer of real or personal property may be asserted in a proceeding by the corporation, whether acting directly or through a receiver, trustee, or other legal representative, or through members in a representative suit, against the officers or directors of the corporation for exceeding their authority.

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Notwithstanding § 47-22-69 , the fact that a corporation was without capacity or power to do an act or to make or receive a conveyance or transfer of real or personal property may be asserted in a proceeding by the corporation, whether acting directly or through a receiver, trustee, or other legal representative, or through members in a representative suit, against the officers or directors of the corporation for exceeding their authority.