South Dakota Statutes
§ 47-11E-7 — Qualifications of president, directors and officers.
The president of a corporation formed pursuant to § 47-11E-1 shall be a shareholder and director; and, to the extent possible, all other directors and officers shall be persons having the qualifications prescribed in § 47-11E-5 . Lay directors and officers may not exercise any authority whatsoever over professional matters.
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South Dakota § 47-11E-7 (Qualifications of president, directors and officers.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1996, ch 228, § 7.
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Repealed§ 47-1-3
Repealed§ 47-10-1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.