South Dakota § 47-1A-1431.3 Shareholder right to avoid dissolution by purchase of petitioner shares--Notice.

South Dakota Statutes

§ 47-1A-1431.3 — Shareholder right to avoid dissolution by purchase of petitioner shares--Notice.

South Dakota § 47-1A-1431.3

Title 47CORPORATIONS

Ch. 47-1SOUTH DAKOTA BUSINESS CORPORATION ACT

This text of South Dakota § 47-1A-1431.3 (Shareholder right to avoid dissolution by purchase of petitioner shares--Notice.) 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-1431.3 (2026).

Text

Within ten days of the commencement of a proceeding under subdivision 47-1A-1430(2) to dissolve a corporation that has no shares listed on a national securities exchange or regularly traded in a market maintained by one or more members of a national or affiliated securities association, the corporation shall send to all shareholders, other than the petitioner, a notice stating that the shareholders are entitled to avoid the dissolution of the corporation by electing to purchase the petitioner's shares under §§ 47-1A-1434 to 47-1A-1434.7 , inclusive and accompanied by a copy of §§ 47-1A-1434 to 47-1A-1434.7 , inclusive.

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Within ten days of the commencement of a proceeding under subdivision 47-1A-1430(2) to dissolve a corporation that has no shares listed on a national securities exchange or regularly traded in a market maintained by one or more members of a national or affiliated securities association, the corporation shall send to all shareholders, other than the petitioner, a notice stating that the shareholders are entitled to avoid the dissolution of the corporation by electing to purchase the petitioner's shares under §§ 47-1A-1434 to 47-1A-1434.7 , inclusive and accompanied by a copy of §§ 47-1A-1434 to 47-1A-1434.7 , inclusive.