South Dakota § 58-5-71 - Profits from insider security transactions accruing to company.
Full text of South Dakota South Dakota Codified Laws § 58-5-71 — Profits from insider security transactions accruing to company., with citation guidance and answers to common questions.
§ 58-5-71. Profits from insider security transactions accruing to company.
For the purpose of preventing the unfair use of information which may have been obtained by such beneficial owner, director, or officer by reason of his relationship to such company, any profit realized by him from any purchase and sale, or any sale and purchase, of any equity security of such company within any period of less than six months, unless such security was acquired in good faith in connection with a debt previously contracted, shall inure to and be recoverable by the company, irrespective of any intention on the part of such beneficial owner, director, or officer in entering into such transaction of holding the security purchased or of not repurchasing the security sold for a period exceeding six months.
Source: SL 1966, ch 111, ch 16, § 27 (2).
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-5-71
What does South Dakota Codified Laws § 58-5-71 cover?
Section 58-5-71 ("Profits from insider security transactions accruing to company.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 58-5-71?
A common citation format is "South Dakota Codified Laws § 58-5-71" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 58-5-71 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.