S.D. Codified Laws § 47-1A-830
This is the official text of S.D. Codified Laws § 47-1A-830, 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.
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Standards of conduct for directors
Official statutory text
Each member of the board of directors, when discharging the duties of a director, shall act in good faith and in a manner the director reasonably believes to be in the best interests of the corporation. The members of the board of directors or a committee of the board, when becoming informed in connection with their decision-making function or devoting attention to their oversight function, shall discharge their duties with the care that a person in a like position would reasonably believe appropriate under similar circumstances.
Source: SL 2005, ch 239, § 157.
Source: SL 2005, ch 239, § 157.
Status: in_force · Read it on the official government site
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