South Dakota Statutes
§ 47-18-17 — Liquidation of assets by court--Proper parties to bring action.
South Dakota § 47-18-17
This text of South Dakota § 47-18-17 (Liquidation of assets by court--Proper parties to bring action.) 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 § 47-18-17 (2026).
Text
The circuit court for the county where the principal office or registered agent of the cooperative is located may liquidate the assets and business of such cooperative when an action for that purpose is filed by or on behalf of:
(1)A majority of the designated committee or directors when a resolution is adopted pursuant to § 47-18-11 ;
(2)The attorney general when a decree of dissolution has been obtained pursuant to § 47-18-15 ;
(3)A judgment creditor whose execution is returned unsatisfied when it is established that the cooperative is unable to pay its debts as they become due in the usual course of its business;
(4)Any creditor when it is established that the cooperative is dissolving pursuant to §§ 47-18-11 to 47-18-14 , inclusive, or §§ 47-18-16.3 to 47-18-16.6 , incl
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Legislative History
SDC 1939, § 11.1145 (1) as enacted by SL 1965, ch 23, § 1; SL 1989, ch 390, § 11.
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Repealed§ 47-1-3
Repealed§ 47-10-1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 § 47-18-17, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-18-17.