Section 47-10-20 – Nonstockholder members–Liability for debts.

47-10-20. Nonstockholder members–Liability for debts.

Nonstockholder members of a business development credit corporation do not assume any liability for the debts of the corporation.

Source: SL 1957, ch 314, §5; SDC Supp 1960, §55.6005 (2) (d).