South Dakota Statutes
§ 47-10-15 — First annual meeting--Conditions--Subsequent annual meetings.
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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South Dakota § 47-10-15 (First annual meeting--Conditions--Subsequent annual meetings.) — 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Repealed§ 47-1-3
Repealed§ 47-10-1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.