S.D. Codified Laws § 47-10-18

Current through the 2024 Legislative Session

Section 47-10-18 - Nonstockholder members-Duty to lend

All calls of funds which nonstockholder members of a business development credit corporation are committed to lend to the corporation shall be prorated by the corporation among the nonstockholder members in the same proportion that the individual lines of credit bear to the aggregate line of credit.

SDCL 47-10-18

SL 1957, ch 314, § 5; SDC Supp 1960, § 55.6005 (2) (b).