South Dakota § 47-1A-853 - Advance for expenses.
Full text of South Dakota South Dakota Codified Laws § 47-1A-853 — Advance for expenses., with citation guidance and answers to common questions.
§ 47-1A-853. Advance for expenses.
A corporation may, before final disposition of a proceeding, advance funds to pay for or reimburse the reasonable expenses incurred by a director who is a party to a proceeding by reasons of being a director if the director delivers to the corporation:
(1) A written affirmation of the director's good faith belief that the director has met the relevant standard of conduct described in § 47-1A-851 or that the proceeding involves conduct for which liability has been eliminated under a provision of the articles of incorporation as authorized by subdivision 47-1A-202.1(4); and
(2) The director's written undertaking to repay any funds advanced if the director is not entitled to mandatory indemnification under § 47-1A-852 and it is ultimately determined under § 47-1A-854 or § 47-1A-855 that the director has not met the relevant standard of conduct described in § 47-1A-851.
The undertaking required by subdivision (2) must be an unlimited general obligation of the director but need not be secured and may be accepted without reference to the financial ability of the director to make repayment.
Source: SL 2005, ch 239, § 175.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 47-1A-853
What does South Dakota Codified Laws § 47-1A-853 cover?
Section 47-1A-853 ("Advance for expenses.") 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-853?
A common citation format is "South Dakota Codified Laws § 47-1A-853" (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-853 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.