§ 47-16-7 — Member meetings--Quorum.

South Dakota § 47-16-7

• Jurisdiction: South Dakota
• Title 47: CORPORATIONS
• Ch. 47-14B: COOPERATIVES--MEMBERSHIP, STOCK AND DISTRIBUTIONS

Text

A quorum at a member meeting of a cooperative shall be ten percent of the first one hundred members plus five percent of additional members, present or represented by delegate. Unless the bylaws fix a larger number of members to constitute a quorum, a quorum may never be more than fifty members nor fewer than five members, or a majority of all members, whichever is smaller. Members represented by signed vote may be counted in computing a quorum only on those questions as to which the signed vote is taken. The sufficiency or requirement of a quorum for the transaction of business at a district meeting of members shall be established in the bylaws. However, the quorum may not be fewer than five members.

Legislative History

SDC 1939, § 11.1116 as enacted by SL 1965, ch 23, § 1; SL 2000, ch 220, § 1; SL 2021, ch 194, § 4.