South Dakota Codified Laws 47-22-41. Liability for actions during emergency–Willful misconduct
Current as of: 2023 | Check for updates
|
Other versions
No officer, director, or employee acting in accordance with any emergency bylaws shall be liable except for willful misconduct. No officer, director, or employee shall be liable for any action taken by him in good faith in any emergency described in § 47-22-35 in furtherance of the ordinary affairs of the corporation even though not authorized by the bylaws then in effect.
Terms Used In South Dakota Codified Laws 47-22-41
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Source: SL 1965, ch 24, § 14.