Section 47-1A-842.2 - Liability of officer. - South Dakota Statutes

47-1A-842.2. Liability of officer. An officer is not liable to the corporation or its shareholders for any decision to take or not to take action, or any failure to take any action, as an officer, if the duties of the office are performed in compliance with §§ 47-1A-842 and 47-1A-842.1. Whether an officer who does not comply with this section is liable depends in such instance on applicable law, including those principles of §§ 47-1A-831 to 47-1A-831.2, inclusive, that have relevance.

Source: SL 2005, ch 239, § 168.