South Dakota Statutes
§ 47-10-12 — Capitalization--Minimum capital before commencing business.
At least twenty - five percent of the capital stock authorized in the articles of incorporation shall be paid into the treasury of the corporation in cash before the corporation shall be authorized to transact any business other than such as relates to its organization.
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South Dakota § 47-10-12 (Capitalization--Minimum capital before commencing business.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1957, ch 314, § 3; SDC Supp 1960, § 55.6003.
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Repealed§ 47-1-3
Repealed§ 47-10-1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.