49-33-27. 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 liable as stockholder of such corporation for any calls or installments on any partially paid-up 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 to the same extent as the decedent, ward, or other person interested would have been, if living or competent to act and holding stock in his own name.
Source: SDC 1939, §52.1507; SL 1993, ch 213, §248; SL 1995, ch 167, §188.
Structure South Dakota Codified Laws
Title 49 - Public Utilities and Carriers
Chapter 33 - Electric, Street Railway And Gas Corporations
Section 49-33-2 - Provisions applicable to gas companies.
Section 49-33-4 - Certificate of incorporation--Corporate name--Rights conferred by certificate.
Section 49-33-5 - Powers of corporation--Operation of business.
Section 49-33-5.1 - Powers of corporation--Business corporation powers.
Section 49-33-6 - Powers of corporation--Survey of proposed route--Entry upon property.
Section 49-33-8 - Powers of corporation--Holding property.
Section 49-33-9 - Powers of corporation--Purchase of property--Disposition of unneeded property.
Section 49-33-12 - Powers of corporation--Rules and regulations--Rates--Discrimination prohibited.
Section 49-33-13 - Powers of corporation--Extraterritorial powers.
Section 49-33-14 - Board of directors--Election and term of office--Voting for directors--Vacancies.
Section 49-33-14.1 - Bylaws--Adoption, amendment or repeal by board.
Section 49-33-14.2 - Annual and special meetings of stockholders--Quorum--Notice.
Section 49-33-15 - Director as stockholder--Minimum stock ownership.
Section 49-33-17 - Officers of corporation.
Section 49-33-19 - Capital stock subscription.
Section 49-33-21 - Transfer of stock--Stock deemed personal property.
Section 49-33-23 - Issuance of preferred stock.
Section 49-33-24 - Series of preferred stock--Characteristics of stock--Dividends--Voting powers.
Section 49-33-25 - Certificate of issuance of preferred stock--Filing with secretary of state.
Section 49-33-26 - Increasing or decreasing preferred stock--Resolution of directors.
Section 49-33-27 - Liability of stockholders--Stock held by fiduciary or as collateral security.
Section 49-33-28 - Holding of stock in other corporations.
Section 49-33-30 - Consolidation or merger with other corporations--Approval of plan.
Section 49-33-31 - Articles of incorporation requiring greater vote control.