South Dakota Statutes
§ 47-13B-7 — Qualifications of directors and officers--Restrictions on powers of lay directors and officers.
South Dakota·Title 47 CORPORATIONS·Ch. 47-12 PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING
The principal executive officer shall be a shareholder and a director and, to the extent possible, all other directors and principal officers shall be shareholders, and lay directors and officers shall not exercise any authority whatsoever over professional matters.
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South Dakota § 47-13B-7 (Qualifications of directors and officers--Restrictions on powers of lay directors and officers.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1971, ch 260, § 1 (6).
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Repealed§ 47-1-3
Repealed§ 47-10-1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.