Contribution or recoupment--Limitation of action

SDCL § 47-1A-833.1 — under SOUTH DAKOTA BUSINESS CORPORATION ACT.

SDCL § 47-1A-833.1

A director held liable under § 47-1A-833 for an unlawful distribution is entitled to: (1) Contribution from every other director who could be held liable under § 47-1A-833 for the unlawful distribution; and (2) Recoupment from each shareholder of the pro-rata portion of the amount of the unlawful distribution the shareholder accepted, knowing the distribution was made in violation of § 47-1A-640 or