South Dakota Statutes
§ 47-10-11 — Directors--Number and term of office.
The corporate powers of any business development credit corporation shall be exercised by a board of directors. The number of directors and their term of office shall be determined in a manner prescribed in the bylaws. At no time shall there be less than five directors. The initial board of directors shall consist of the incorporators and they shall serve until the first annual meeting.
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South Dakota § 47-10-11 (Directors--Number and term of office.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1957, ch 314, § 4; SDC Supp 1960, § 55.6004.
Nearby Sections
15
§ 47-1-1
Repealed§ 47-1-3
Repealed§ 47-10-1
Purposes of corporations.§ 47-10-10
Incorporators.§ 47-10-11
Directors--Number and term of office.§ 47-10-13
Accumulation of surplus--Use of surplus.§ 47-10-14
Persons authorized to hold common stock.§ 47-10-18
Nonstockholder members--Duty to lend.§ 47-10-2
Powers of corporations.