South Dakota § 47-26-39 - Preexisting rights and claims unaffected by dissolution--Time for assertion--Protection of remedy.
Full text of South Dakota South Dakota Codified Laws § 47-26-39 — Preexisting rights and claims unaffected by dissolution--Time for assertion--Protection of remedy., with citation guidance and answers to common questions.
§ 47-26-39. Preexisting rights and claims unaffected by dissolution--Time for assertion--Protection of remedy.
The dissolution of a corporation either:
(1) By the issuance of a certificate of dissolution by the secretary of state; or
(2) By a decree of court when the court has not liquidated the assets and affairs of the corporation as provided in this chapter; or
(3) By expiration of its period of duration,
shall not take away or impair any remedy available to or against such corporation, its directors, officers, or members, for any right or claim existing, or any liability incurred, prior to such dissolution if action or other proceeding thereon is commenced within two years after the date of such dissolution. Any such action or proceeding by or against the corporation may be prosecuted or defended by the corporation in its corporate name. The members, directors, and officers shall have power to take such corporate or other action as shall be appropriate to protect such remedy, right, or claim.
Source: SL 1965, ch 24, § 64.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 47-26-39
What does South Dakota Codified Laws § 47-26-39 cover?
Section 47-26-39 ("Preexisting rights and claims unaffected by dissolution--Time for assertion--Protection of remedy.") 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 § 47-26-39?
A common citation format is "South Dakota Codified Laws § 47-26-39" (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 § 47-26-39 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.