South Dakota § 47-23-2 Exoneration from personal liability.

South Dakota Statutes

§ 47-23-2 — Exoneration from personal liability.

South Dakota § 47-23-2

Title 47CORPORATIONS

Ch. 47-22NONPROFIT CORPORATIONS--MEMBERS, DIRECTORS, OFFICERS AND AGENTS

This text of South Dakota § 47-23-2 (Exoneration from personal liability.) 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 § 47-23-2 (2026).

Text

The directors, officers, employees, and members of the corporation shall not, as such, be liable on its obligations.

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Legislative History

SDC 1939, § 11.1406; SL 1965, ch 24, § 12.

Nearby Sections

15

§ 47-1-1

Repealed

§ 47-1-3

Repealed

§ 47-1-4

Terms to include blockchain technology.

§ 47-10-1

Purposes of corporations.

§ 47-10-10

Incorporators.

§ 47-10-11

Directors--Number and term of office.

§ 47-10-12

Capitalization--Minimum capital before commencing business.

§ 47-10-13

Accumulation of surplus--Use of surplus.

§ 47-10-14

Persons authorized to hold common stock.

§ 47-10-15

First annual meeting--Conditions--Subsequent annual meetings.

§ 47-10-16

Classes of members--Stockholder members--Nonstockholder members.

§ 47-10-17

Nonstockholder members--Establishment of line of credit.

§ 47-10-18

Nonstockholder members--Duty to lend.

§ 47-10-19

Nonstockholder members--Right to withdraw--Conditions.

§ 47-10-2

Powers of corporations.

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Bluebook (online)

South Dakota § 47-23-2, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-23-2.