S.D. Codified Laws § 47-1A-1409
This is the official text of S.D. Codified Laws § 47-1A-1409, part of South Dakota’s Codified Laws — part of the compiled statutory law of South Dakota, published by the state as "Codified Laws." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Director duties
Official statutory text
Directors shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions of assets to shareholders after payment or provision for claims.
Directors of a dissolved corporation which has disposed of claims under §§ 47-1A-1406 to 47-1A-1406.2 , inclusive, 47-1A-1407 to 47-1A-1407.2 , inclusive, or 47-1A-1408 and 47-1A-1408.1 , are not liable for breach of this section with respect to claims against the dissolved corporation that are barred or satisfied under §§ 47-1A-1406 to 47-1A-1406.2 , inclusive, 47-1A-1407 to 47-1A-1407.2 , inclusive, or 47-1A-1408 and 47-1A-1408.1 .
Source: SL 2005, ch 239, § 326.
Directors of a dissolved corporation which has disposed of claims under §§ 47-1A-1406 to 47-1A-1406.2 , inclusive, 47-1A-1407 to 47-1A-1407.2 , inclusive, or 47-1A-1408 and 47-1A-1408.1 , are not liable for breach of this section with respect to claims against the dissolved corporation that are barred or satisfied under §§ 47-1A-1406 to 47-1A-1406.2 , inclusive, 47-1A-1407 to 47-1A-1407.2 , inclusive, or 47-1A-1408 and 47-1A-1408.1 .
Source: SL 2005, ch 239, § 326.
Status: in_force · Read it on the official government site
Need a lawyer in South Dakota?
Find a South Dakota lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.