47-1A-640.3. Indebtedness to shareholder by reason of distribution at parity with indebtedness to general unsecured creditor.A corporation's indebtedness to a shareholder incurred by reason of a distribution made in accordance with §§47-1A-640 to 47-1A-640.5, inclusive, is at parity with the corporation's indebtedness to its general, unsecured creditors except to the extent subordinated by agreement. Source: SL 2005, ch 239, §83.
South Dakota Legal Code