South Dakota Statutes
§ 47-1A-1330 — Court action.
If a shareholder makes demand for payment under § 47-1A-1326 which remains unsettled, the corporation shall commence a proceeding within sixty days after receiving the payment demand and petition the court to determine the fair value of the shares and accrued interest. If the corporation does not commence the proceeding within the sixty-day period, it shall pay in cash to each shareholder the amount the shareholder demanded pursuant to § 47-1A-1326 plus interest.
Free access — add to your briefcase to read the full text and ask questions with AI
South Dakota § 47-1A-1330 (Court action.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Link v. L.S.I., Inc.
2010 S.D. 103 (South Dakota Supreme Court, 2010)
Legislative History
SL 2005, ch 239, § 300.
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Repealed§ 47-1-3
Repealed§ 47-10-1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.