S.D. Codified Laws § 47-1A-831.1
This is the official text of S.D. Codified Laws § 47-1A-831.1, 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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Specific burdens when seeking specified money damages or payment
Official statutory text
The party seeking to hold the director liable:
(1) For money damages, also has the burden of establishing that:
(a) Harm to the corporation or its shareholders has been suffered; and
(b) The harm suffered was proximately caused by the director's challenged conduct; or
(2) For other money payment under a legal remedy, such as compensation for the unauthorized use of corporate assets, also has whatever persuasion burden may be called for to establish that the payment sought is appropriate in the circumstances; or
(3) For other money payment under an equitable remedy, such as profit recovery by or disgorgement to the corporation, also has whatever persuasion burden may be called for to establish that the equitable remedy sought is appropriate in the circumstances.
Source: SL 2005, ch 239, § 160.
(1) For money damages, also has the burden of establishing that:
(a) Harm to the corporation or its shareholders has been suffered; and
(b) The harm suffered was proximately caused by the director's challenged conduct; or
(2) For other money payment under a legal remedy, such as compensation for the unauthorized use of corporate assets, also has whatever persuasion burden may be called for to establish that the payment sought is appropriate in the circumstances; or
(3) For other money payment under an equitable remedy, such as profit recovery by or disgorgement to the corporation, also has whatever persuasion burden may be called for to establish that the equitable remedy sought is appropriate in the circumstances.
Source: SL 2005, ch 239, § 160.
Status: in_force · Read it on the official government site
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