Statutes > South Dakota Statutes > Title 47 - CORPORATIONS > Chapter 10 - Business Development Credit Corporations > Section 47-10-21 - Nonstockholder members--Right to share in surplus.

Section 47-10-21 - Nonstockholder members--Right to share in surplus.

47-10-21. Nonstockholder members--Right to share in surplus. Nonstockholder members of a business development credit corporation shall not share in any surplus of the corporation in excess of the obligations due such nonstockholder members.

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