Dissolution as not impairing preexisting rights--Time limitation

Except as provided in §§ 47-18-17 to 47-18-22 , inclusive, the dissolution of a cooperative does not impair any remedy available to or against such cooperative, its directors, stockholders, or members for any claim existing or any liability incurred prior to such dissolution if a proceeding thereon is commenced within two years after the date of recording the certificate or decree of dissolution. Source: SDC 1939, § 11.1148 as enacted by SL 1965, ch 23, § 1.