South Dakota § 47-10-15 First annual meeting--Conditions--Subsequent annual meetings.

South Dakota Statutes

§ 47-10-15 — First annual meeting--Conditions--Subsequent annual meetings.

South Dakota § 47-10-15

Title 47CORPORATIONS

Ch. 47-10BUSINESS DEVELOPMENT CREDIT CORPORATIONS

This text of South Dakota § 47-10-15 (First annual meeting--Conditions--Subsequent annual meetings.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 47-10-15 (2026).

Text

The first annual meeting of a business development credit corporation shall occur at a date to be fixed by the board of directors as soon as reasonably possible after a minimum of twenty - five percent of the capital stock of the corporation is paid into its treasury and a minimum of ten stockholder members of the corporation have qualified as provided in § 47-10-16 ; and such annual meeting and subsequent annual meetings shall be called and the directors shall be elected in the manner provided in the bylaws.

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The first annual meeting of a business development credit corporation shall occur at a date to be fixed by the board of directors as soon as reasonably possible after a minimum of twenty - five percent of the capital stock of the corporation is paid into its treasury and a minimum of ten stockholder members of the corporation have qualified as provided in § 47-10-16 ; and such annual meeting and subsequent annual meetings shall be called and the directors shall be elected in the manner provided in the bylaws.