South Dakota Statutes
§ 47-16-55 — Procedure for forfeiture--Resolution--Time limit for claim.
South Dakota § 47-16-55
JurisdictionSouth Dakota
Title 47CORPORATIONS
Ch. 47-14BCOOPERATIVES--MEMBERSHIP, STOCK AND DISTRIBUTIONS
This text of South Dakota § 47-16-55 (Procedure for forfeiture--Resolution--Time limit for claim.) 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 § 47-16-55 (2026).
Text
A motion or resolution may be passed or adopted by the board of directors of a cooperative declaring the forfeiture of any money or property described in § 47-16-54 unless the same is claimed by the person or persons entitled thereto within six months after notice of such forfeiture is given.
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Legislative History
SDC 1939, § 11.1132 (1) 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Repealed§ 47-1-3
Repealed§ 47-10-1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 § 47-16-55, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-16-55.