South Dakota § 47-1A-1407.2 - Enforcement of claims against dissolved corporations.
Full text of South Dakota South Dakota Codified Laws § 47-1A-1407.2 — Enforcement of claims against dissolved corporations., with citation guidance and answers to common questions.
§ 47-1A-1407.2. Enforcement of claims against dissolved corporations.
A claim that is not barred by § 47-1A-1406 or 47-1A-1407.1 may be enforced:
(1) Against the dissolved corporation, to the extent of its undistributed assets; or
(2) Except as provided in § 47-1A-1408.1, if the assets have been distributed in liquidation, against a shareholder of the dissolved corporation to the extent of the shareholder's pro rata share of the claim or the corporate assets distributed to the shareholder in liquidation, whichever is less, but a shareholder's total liability for all claims under this section may not exceed the total amount of assets distributed to the shareholder.
Source: SL 2005, ch 239, § 323.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 47-1A-1407.2
What does South Dakota Codified Laws § 47-1A-1407.2 cover?
Section 47-1A-1407.2 ("Enforcement of claims against dissolved corporations.") 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 § 47-1A-1407.2?
A common citation format is "South Dakota Codified Laws § 47-1A-1407.2" (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 § 47-1A-1407.2 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.