Section 37-11-4 - Liability for business debts of persons shown as interested in business. - South Dakota Statutes

37-11-4. Liability for business debts of persons shown as interested in business. All persons interested in a business described in § 37-11-1 at any time shall be at all times liable for any contracts or obligations incurred while they were so interested and in addition shall be liable for all contracts and obligations incurred prior to the filing of a verified statement showing that they are no longer interested.

Source: SDC 1939, § 49.0801.