South Dakota Statutes
§ 47-30-5 — Fraudulent corporate insolvency--Participating directors--Misdemeanor.
South Dakota § 47-30-5
This text of South Dakota § 47-30-5 (Fraudulent corporate insolvency--Participating directors--Misdemeanor.) 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 § 47-30-5 (2026).
Text
Every insolvency of a corporation is deemed fraudulent unless its affairs appear, upon investigation, to have been administered fairly and legally, and generally with the same care and diligence that agents receiving a compensation for their services are bound by law to observe. In every case of a fraudulent insolvency of a corporation, every director thereof who participated in such fraud, if no other punishment is prescribed therefor, is guilty of a Class 2 misdemeanor.
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Legislative History
SDC 1939, § 13.4314; SL 1983, ch 15, § 50.
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Repealed§ 47-1-3
Repealed§ 47-10-1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 § 47-30-5, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-30-5.