South Dakota Const. art. XVII, § 8

South Dakota Constitution

Article XVII, § 8 — Stocks and bonds -- Indebtedness increase

South Dakota Const. art. XVII, § 8 (Stocks and bonds -- Indebtedness increase) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

JurisdictionSouth Dakota DocumentConstitution

ArticleXVII

Section§ 8

CitationSouth Dakota Const. art. XVII, § 8

Bluebook

S.D. Const. art. XVII, § 8.

Full Text

No corporation shall issue stocks or bonds except for money, labor done, or money or property actually received; and all fictitious increase of stock or indebtedness shall be void. The stock and indebtedness of corporations shall not be increased except in pursuance of general law, nor without the consent of the persons holding the larger amount in value of the stock first obtained, at a meeting to be held after sixty days’ notice given in pursuance of law.

Add this to your briefcase to access full text.

No corporation shall issue stocks or bonds except for money, labor done, or money or property actually received; and all fictitious increase of stock or indebtedness shall be void. The stock and indebtedness of corporations shall not be increased except in pursuance of general law, nor without the consent of the persons holding the larger amount in value of the stock first obtained, at a meeting to be held after sixty days’ notice given in pursuance of law.