South Dakota § 47-16-36 Actions by stockholders or members--Additional allegations.

South Dakota Statutes

§ 47-16-36 — Actions by stockholders or members--Additional allegations.

South Dakota § 47-16-36

Title 47CORPORATIONS

Ch. 47-14BCOOPERATIVES--MEMBERSHIP, STOCK AND DISTRIBUTIONS

This text of South Dakota § 47-16-36 (Actions by stockholders or members--Additional allegations.) 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 § 47-16-36 (2026).

Text

No action may be instituted or maintained in the right of any association by any member or stockholder unless he alleges in his complaint with particularity his efforts to secure from the board of directors such action as he desires. He shall allege further that he has either informed the corporation or board in writing of the ultimate facts of each cause of action against each director or that he has delivered to the cooperative or board a copy of the complaint which he proposes to file. He shall state the reasons for his failure to obtain such action or the reasons for not making such effort.

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No action may be instituted or maintained in the right of any association by any member or stockholder unless he alleges in his complaint with particularity his efforts to secure from the board of directors such action as he desires. He shall allege further that he has either informed the corporation or board in writing of the ultimate facts of each cause of action against each director or that he has delivered to the cooperative or board a copy of the complaint which he proposes to file. He shall state the reasons for his failure to obtain such action or the reasons for not making such effort.