Section 15-2-14.3 - Time for bringing action against professional corporation--Corporate characterand status unaffected. - South Dakota Statutes

15-2-14.3. Time for bringing action against professional corporation--Corporate character and status unaffected. Any action against any professional corporation or professional limited liability company organized under chapter 47-11, 47-11A, 47-11B, 47-11C, 47-12, 47-13, 47-13A, or 47-13B can only be brought within the time and in the manner prescribed by the statute of limitations applicable to such action if it were commenced against a stockholder of such corporation as an individual. This section does not affect the corporate character and status of any professional corporation now or hereafter organized under the chapters herein mentioned, but that, as to such professional corporations, the limitation of actions applicable to the corporation are the same as that applicable to the individual professionals who are stockholders of the corporation.

Source: SL 1979, ch 146; SL 1994, ch 351, § 31.