South Dakota Codified Laws 47-23-2. Exoneration from personal liability
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The directors, officers, employees, and members of the corporation shall not, as such, be liable on its obligations.
Terms Used In South Dakota Codified Laws 47-23-2
- 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: SDC 1939, § 11.1406; SL 1965, ch 24, § 12.