South Dakota § 47-10-19 - Nonstockholder members--Right to withdraw--Conditions.
Full text of South Dakota South Dakota Codified Laws § 47-10-19 — Nonstockholder members--Right to withdraw--Conditions., with citation guidance and answers to common questions.
§ 47-10-19. Nonstockholder members--Right to withdraw--Conditions.
Upon written notice given sixty days in advance, a nonstockholder member of a business development credit corporation may withdraw from such membership at the expiration date of such notice and after said expiration date shall cease to exercise any of the powers and privileges incidental to such membership and shall be free of any obligations in connection therewith except those obligations which have accrued or for which commitments have been made before said expiration date.
Source: SL 1957, ch 314, § 5; SDC Supp 1960, § 55.6005 (2) (c).
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 47-10-19
What does South Dakota Codified Laws § 47-10-19 cover?
Section 47-10-19 ("Nonstockholder members--Right to withdraw--Conditions.") 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 § 47-10-19?
A common citation format is "South Dakota Codified Laws § 47-10-19" (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 § 47-10-19 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.