The provisions of the law governing private corporations shall be applicable to corporations formed under this chapter, including their organization, and they shall enjoy the powers and privileges and be subject to the duties, restrictions, and liabilities of other corporations, except so far as the same may be limited or enlarged by this chapter.

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Terms Used In South Dakota Codified Laws 47-11C-23

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

Source: SL 1977, ch 384, § 23.

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