South Dakota § 47-1A-1321 Notice of intent to demand payment.

South Dakota Statutes

§ 47-1A-1321 — Notice of intent to demand payment.

South Dakota § 47-1A-1321

Title 47CORPORATIONS

Ch. 47-1SOUTH DAKOTA BUSINESS CORPORATION ACT

This text of South Dakota § 47-1A-1321 (Notice of intent to demand 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 § 47-1A-1321 (2026).

Text

If proposed corporate action requiring appraisal rights under §§ 47-1A-1302 to 47-1A-1302.3 , inclusive, is submitted to a vote at a shareholders' meeting, a shareholder who wishes to assert appraisal rights with respect to any class or series of shares:

(1)Must deliver to the corporation before the vote is taken written notice of the shareholder's intent to demand payment if the proposed action is effectuated; and (2) Must not vote, or cause or permit to be voted, any shares of such class or series in favor of the proposed action. A shareholder who does not satisfy the requirements of this section is not entitled to payment under §§ 47-1A-1301 to 47-1A-1331.2 , inclusive.

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If proposed corporate action requiring appraisal rights under §§ 47-1A-1302 to 47-1A-1302.3 , inclusive, is submitted to a vote at a shareholders' meeting, a shareholder who wishes to assert appraisal rights with respect to any class or series of shares: (1) Must deliver to the corporation before the vote is taken written notice of the shareholder's intent to demand payment if the proposed action is effectuated; and (2) Must not vote, or cause or permit to be voted, any shares of such class or series in favor of the proposed action. A shareholder who does not satisfy the requirements of this section is not entitled to payment under §§ 47-1A-1301 to 47-1A-1331.2 , inclusive.