South Dakota Statutes
§ 47-18-11 — Voluntary dissolution--Notice and approval.
At any member meeting of a cooperative, whether or not a quorum is present, a cooperative may dissolve if:
(1)Notice that a resolution for dissolution will be considered and acted upon has been given to all members and to all other persons entitled by the articles to vote thereon pursuant to resolution adopted by the board of directors, and (2) Such resolution is adopted by members holding three - fourths of the member votes cast thereon. The articles may permit stockholders to vote on the resolution for dissolution.
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South Dakota § 47-18-11 (Voluntary dissolution--Notice and approval.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SDC 1939, § 11.1143 (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Repealed§ 47-1-3
Repealed§ 47-10-1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
Powers of corporations.