South Dakota § 49-30-24 Liability of stockholders--Stock held by fiduciary or as collateral security.

South Dakota Statutes

§ 49-30-24 — Liability of stockholders--Stock held by fiduciary or as collateral security.

South Dakota § 49-30-24

Title 49PUBLIC UTILITIES AND CARRIERS

Ch. 49-29TELEPHONE AND TELEGRAPH CORPORATIONS

This text of South Dakota § 49-30-24 (Liability of stockholders--Stock held by fiduciary or as collateral security.) 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 § 49-30-24 (2026).

Text

No person holding stock in any corporation organized under this chapter as personal representative, conservator, or trustee, and no person holding such stock as collateral security, is personally subject to any liability as stockholder of such corporation for any calls or installments on any part-paid stock thereof; but the person pledging such stock shall be considered as holding the same, and is liable as a stockholder accordingly; and the estate and funds in the hands of such personal representative, conservator, or trustee is liable in like manner and to the same extent as the testator, or intestate, ward, or person interested would have been if he had been living or competent to act, and held the same stock in his own name.

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No person holding stock in any corporation organized under this chapter as personal representative, conservator, or trustee, and no person holding such stock as collateral security, is personally subject to any liability as stockholder of such corporation for any calls or installments on any part-paid stock thereof; but the person pledging such stock shall be considered as holding the same, and is liable as a stockholder accordingly; and the estate and funds in the hands of such personal representative, conservator, or trustee is liable in like manner and to the same extent as the testator, or intestate, ward, or person interested would have been if he had been living or competent to act, and held the same stock in his own name.