Section 47-1A-831.1 - Specific burdens when seeking specified money damages or payment. - South-dakota Statutes

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-01a > Statute-47-1a-831-1

47-1A-831.1. Specific burdens when seeking specified money damages or payment. The party seeking to hold the director liable:
(1) For money damages, also has the burden of establishing that:
(a) Harm to the corporation or its shareholders has been suffered; and
(b) The harm suffered was proximately caused by the director's challenged conduct; or
(2) For other money payment under a legal remedy, such as compensation for the unauthorized use of corporate assets, also has whatever persuasion burden may be called for to establish that the payment sought is appropriate in the circumstances; or
(3) For other money payment under an equitable remedy, such as profit recovery by or disgorgement to the corporation, also has whatever persuasion burden may be called for to establish that the equitable remedy sought is appropriate in the circumstances.

Source: SL 2005, ch 239, § 160.

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-01a > Statute-47-1a-831-1

47-1A-831.1. Specific burdens when seeking specified money damages or payment. The party seeking to hold the director liable:
(1) For money damages, also has the burden of establishing that:
(a) Harm to the corporation or its shareholders has been suffered; and
(b) The harm suffered was proximately caused by the director's challenged conduct; or
(2) For other money payment under a legal remedy, such as compensation for the unauthorized use of corporate assets, also has whatever persuasion burden may be called for to establish that the payment sought is appropriate in the circumstances; or
(3) For other money payment under an equitable remedy, such as profit recovery by or disgorgement to the corporation, also has whatever persuasion burden may be called for to establish that the equitable remedy sought is appropriate in the circumstances.

Source: SL 2005, ch 239, § 160.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-01a > Statute-47-1a-831-1

47-1A-831.1. Specific burdens when seeking specified money damages or payment. The party seeking to hold the director liable:
(1) For money damages, also has the burden of establishing that:
(a) Harm to the corporation or its shareholders has been suffered; and
(b) The harm suffered was proximately caused by the director's challenged conduct; or
(2) For other money payment under a legal remedy, such as compensation for the unauthorized use of corporate assets, also has whatever persuasion burden may be called for to establish that the payment sought is appropriate in the circumstances; or
(3) For other money payment under an equitable remedy, such as profit recovery by or disgorgement to the corporation, also has whatever persuasion burden may be called for to establish that the equitable remedy sought is appropriate in the circumstances.

Source: SL 2005, ch 239, § 160.