Section 58-5-72 - Suit to recover insider profits accruing to company. - South-dakota Statutes

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Statutes > South-dakota > Title-58 > Chapter-05 > Statute-58-5-72

58-5-72. Suit to recover insider profits accruing to company. Suit to recover such profit may be instituted at law or in equity in any court of competent jurisdiction by the company, or by the owner of any security of the company in the name and in behalf of the company if the company shall fail or refuse to bring such suit within sixty days after request or shall fail diligently to prosecute the same thereafter; but no such suit shall be brought more than two years after the date such profit was realized.

Source: SL 1966, ch 111, ch 16, § 27 (2).

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-05 > Statute-58-5-72

58-5-72. Suit to recover insider profits accruing to company. Suit to recover such profit may be instituted at law or in equity in any court of competent jurisdiction by the company, or by the owner of any security of the company in the name and in behalf of the company if the company shall fail or refuse to bring such suit within sixty days after request or shall fail diligently to prosecute the same thereafter; but no such suit shall be brought more than two years after the date such profit was realized.

Source: SL 1966, ch 111, ch 16, § 27 (2).

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-05 > Statute-58-5-72

58-5-72. Suit to recover insider profits accruing to company. Suit to recover such profit may be instituted at law or in equity in any court of competent jurisdiction by the company, or by the owner of any security of the company in the name and in behalf of the company if the company shall fail or refuse to bring such suit within sixty days after request or shall fail diligently to prosecute the same thereafter; but no such suit shall be brought more than two years after the date such profit was realized.

Source: SL 1966, ch 111, ch 16, § 27 (2).