South Dakota Statutes
§ 47-16-45 — Dividends on capital stock--Conditions to payment.
South Dakota § 47-16-45
JurisdictionSouth Dakota
Title 47CORPORATIONS
Ch. 47-14BCOOPERATIVES--MEMBERSHIP, STOCK AND DISTRIBUTIONS
This text of South Dakota § 47-16-45 (Dividends on capital stock--Conditions to payment.) 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 § 47-16-45 (2026).
Text
In a cooperative organized with capital stock such dividend from net proceeds may be paid upon capital stock as is authorized by the articles. No dividend may be paid if the capital is impaired or if payment of such dividend would result in an impairment of capital.
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Legislative History
SDC 1939, § 11.1131 (2) (c) 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Repealed§ 47-1-3
Repealed§ 47-10-1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
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Bluebook (online)
South Dakota § 47-16-45, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-16-45.