South Dakota § 46A-9-86 - Director or employee benefit from contract authorized--Direct benefit described.
Full text of South Dakota South Dakota Codified Laws § 46A-9-86 — Director or employee benefit from contract authorized--Direct benefit described., with citation guidance and answers to common questions.
§ 46A-9-86. Director or employee benefit from contract authorized--Direct benefit described.
For purposes of § 46A-9-85, a direct benefit from a contract is derived if the director or employee, the spouse of the director or employee, or any other person with whom the director or employee lives and commingles assets:
(1) Has more than a five percent ownership interest in an entity that is a party to the contract;
(2) Derives income, compensation, or commission directly from the contract or from an entity that is a party to the contract;
(3) Acquires real or personal property under the contract; or
(4) Serves as a director on the board of a for-profit entity that:
(a) Derives income or a commission from the contract; or
(b) Acquires real or personal property under the contract.
A direct benefit is not derived solely from the value associated with any investment or holdings by a director or employee, the spouse of the director or employee, or any other person with whom the director or employee lives and commingles assets.
Source: SL 2023, ch 152, § 2.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 46A-9-86
What does South Dakota Codified Laws § 46A-9-86 cover?
Section 46A-9-86 ("Director or employee benefit from contract authorized--Direct benefit described.") 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 § 46A-9-86?
A common citation format is "South Dakota Codified Laws § 46A-9-86" (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 § 46A-9-86 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.