South Dakota Statutes
§ 47-16-27 — Stock certificates--Conditions to issuance.
South Dakota § 47-16-27
JurisdictionSouth Dakota
Title 47CORPORATIONS
Ch. 47-14BCOOPERATIVES--MEMBERSHIP, STOCK AND DISTRIBUTIONS
This text of South Dakota § 47-16-27 (Stock certificates--Conditions to issuance.) 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 § 47-16-27 (2026).
Text
No stock certificate may be issued by a cooperative except upon payment of the par value of the stock it represents. No cooperative shall issue stock or bonds except for money, labor done, or money or property actually received; and all fictitious increase of stock or indebtedness shall be void. If payment for stock is not in money, the value of the consideration shall be determined by the board of directors and such determination, if made in good faith, shall be conclusive.
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
SDC 1939, § 11.1119 as enacted by SL 1965, ch 23, § 1.
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Repealed§ 47-1-3
Repealed§ 47-10-1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.Cite This Page — Counsel Stack
Bluebook (online)
South Dakota § 47-16-27, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-16-27.