S.D. Codified Laws § 47-10-22

Current with legislation signed by the governor on or before 3/6/2024

Section 47-10-22 - Nonstockholder members-Payment before dissolution of corporation

Upon dissolution of a corporation organized under this chapter, obligations due the nonstockholder members are to be paid in full before any payments are made to the stockholder members.

SDCL 47-10-22

SL 1957, ch 314, § 5; SDC Supp 1960, § 55.6005 (2) (f).