Section 47-10-19 - Nonstockholder members--Right to withdraw--Conditions. - South Dakota Statutes

47-10-19. Nonstockholder members--Right to withdraw--Conditions. Upon written notice given sixty days in advance, a nonstockholder member of a business development credit corporation may withdraw from such membership at the expiration date of such notice and after said expiration date shall cease to exercise any of the powers and privileges incidental to such membership and shall be free of any obligations in connection therewith except those obligations which have accrued or for which commitments have been made before said expiration date.

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