South Dakota Statutes
§ 47-24-4 — Compensation of members, directors, or officers--Distributions upon final liquidation.
South Dakota § 47-24-4
JurisdictionSouth Dakota
Title 47CORPORATIONS
Ch. 47-22NONPROFIT CORPORATIONS--RECORDS, FISCAL AFFAIRS AND REPORTS
This text of South Dakota § 47-24-4 (Compensation of members, directors, or officers--Distributions upon final liquidation.) 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 § 47-24-4 (2026).
Text
A corporation may pay compensation in a reasonable amount to its members, directors, or officers for services rendered, may confer benefits upon its members in conformity with its purposes, and may make distributions upon dissolution or final liquidation as permitted by chapter 47-26 , and no such payment, benefit, or distribution shall be deemed to be a dividend or a distribution of income or profit.
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Legislative History
SL 1965, ch 24, § 28.
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Repealed§ 47-1-3
Repealed§ 47-10-1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 § 47-24-4, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-24-4.