49-30-24. Liability of stockholders--Stock held by fiduciary or as collateral security.
No person holding stock in any corporation organized under this chapter as personal representative, conservator, or trustee, and no person holding such stock as collateral security, is personally subject to any liability as stockholder of such corporation for any calls or installments on any part-paid stock thereof; but the person pledging such stock shall be considered as holding the same, and is liable as a stockholder accordingly; and the estate and funds in the hands of such personal representative, conservator, or trustee is liable in like manner and to the same extent as the testator, or intestate, ward, or person interested would have been if he had been living or competent to act, and held the same stock in his own name.
Source: SDC 1939, §52.1310; SL 1993, ch 213, §247; SL 1995, ch 167, §188.
Structure South Dakota Codified Laws
Title 49 - Public Utilities and Carriers
Chapter 30 - Telephone And Telegraph Corporations
Section 49-30-2 - Affidavit of directors--Contents of affidavit--Filing with secretary of state.
Section 49-30-3 - Certificate of incorporation--Name of corporation--Powers.
Section 49-30-4 - Powers of corporation--Survey for proposed pole line--Entry upon property.
Section 49-30-5 - Powers of corporation--Holding property for accessory facilities.
Section 49-30-7 - Powers of corporation--Construction along waters and highways.
Section 49-30-8 - Powers of corporation--Connection with preexisting lines--Expense of connection.
Section 49-30-9 - Powers of corporation--Transmission of messages.
Section 49-30-10 - Powers of corporation--Accessory facilities.
Section 49-30-11 - Powers of corporation--Rules and regulations for transmission of messages.
Section 49-30-12 - Powers of corporation--Condemnation of real property.
Section 49-30-13 - Board of directors--Election--Terms of office--Director as stockholder.
Section 49-30-14 - Voting for directors--Filling vacancies.
Section 49-30-15 - Meeting for election of directors--Notice of meeting--Waiver of notice.
Section 49-30-17 - Notice to stockholders--Notice by mail.
Section 49-30-18 - Exhibition of corporate books and records.
Section 49-30-19 - Officers of corporation--Appointment by directors.
Section 49-30-20 - Subscriptions for capital stock.
Section 49-30-23 - Transfer of stock--Stock deemed personal property.
Section 49-30-24 - Liability of stockholders--Stock held by fiduciary or as collateral security.