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Statutes > South Dakota Laws > Title 47 - CORPORATIONS > Chapter 16 - Cooperatives--Membership, Stock And Distributions > Section 47-16-33 - Liability on securities wrongfully transferred--Notice.

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SOUTH DAKOTA STATUTES AND CODES

Section 47-16-33 - Liability on securities wrongfully transferred--Notice.

47-16-33. Liability on securities wrongfully transferred--Notice. A cooperative is not liable for acting upon wrongful transfers of its securities unless it has notice that the certificate was not transferred by a proper person or has notice that the transfer was wrongful.

Source: SDC 1939, § 11.1122 (1) as enacted by SL 1965, ch 23, § 1.

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