South Dakota Jury Instruction — 1.9.5.1 Corporation As Alter Ego Of Stockholder This South Dakota jury instruction, 1.9.5.1, focuses on the legal concept of "corporation as alter ego of stockholder." It pertains to situations in which a corporation is deemed to be the alter ego or mere instrumentality of its stockholder(s), allowing for potential liability to be extended to the stockholder(s) personally. In cases where a plaintiff seeks to hold the stockholder(s) personally responsible for the corporation's actions, the jury will be instructed on the following factors: 1. Shareholder Control: The degree to which the stockholder(s) dominates and controls the corporation's decision-making process, including the appointment of officers and directors and the adoption of major policies. 2. Inadequate Capitalization: The extent to which the corporation is financially under capitalized, resulting in an inability to meet its financial obligations or satisfy potential claims. 3. Failure to Observe Corporate Formalities: The level of adherence to formalities such as maintaining separate bank accounts, holding regular shareholder meetings, keeping accurate corporate records, and following necessary legal procedures. 4. Intermingling of Assets: The extent to which the stockholder(s) mix personal funds with those of the corporation, blurring the line between personal and corporate finances. 5. Use of Corporate Assets for Personal Use: Whether the stockholder(s) utilize corporate assets, such as bank accounts, vehicles, or property, for personal benefit without appropriate compensation to the corporation. 6. Siphoning of Corporate Opportunities: Any evidence of the stockholder(s) diverting business opportunities or favorable transactions away from the corporation for personal gain. These factors collectively aim to ascertain whether the corporation is being used as a mere instrumentality or alter ego of the stockholder(s) to evade personal liability. Different variations or additional instructions may be required depending on the specific circumstances of the case, the applicable legal standards, or any relevant case law. An experienced attorney will tailor the instructions as needed to best fit the factual and legal aspects present in the trial. Note: It is essential to consult the most recent version of the South Dakota Jury Instruction Manual and seek professional legal guidance to ensure accurate and up-to-date information.
South Dakota Jury Instruction - 1.9.5.1 Corporation As Alter Ego Of Stockholder
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