South Dakota § 47-1A-601.2 Classes or series of shares articles of incorporation may authorize.

South Dakota Statutes

§ 47-1A-601.2 — Classes or series of shares articles of incorporation may authorize.

South Dakota § 47-1A-601.2

Title 47CORPORATIONS

Ch. 47-1SOUTH DAKOTA BUSINESS CORPORATION ACT

This text of South Dakota § 47-1A-601.2 (Classes or series of shares articles of incorporation may authorize.) 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-601.2 (2026).

Text

The articles of incorporation may authorize one or more classes or series of shares that:

(1)Have special, conditional, or limited voting rights, or no right to vote, except to the extent otherwise provided by this chapter;

(2)Are redeemable or convertible as specified in the articles of incorporation:

(a)At the option of the corporation, the shareholder, or another person or upon the occurrence of a specified event;

(b)For cash, indebtedness, securities, or other property; and (c) At prices and in amounts specified, or determined in accordance with a formula;

(3)Entitle the holders to distributions calculated in any manner, including dividends that may be cumulative, noncumulative, or partially cumulative; or (4) Have preference over any other class or series of

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The articles of incorporation may authorize one or more classes or series of shares that: (1) Have special, conditional, or limited voting rights, or no right to vote, except to the extent otherwise provided by this chapter; (2) Are redeemable or convertible as specified in the articles of incorporation: (a) At the option of the corporation, the shareholder, or another person or upon the occurrence of a specified event; (b) For cash, indebtedness, securities, or other property; and (c) At prices and in amounts specified, or determined in accordance with a formula; (3) Entitle the holders to distributions calculated in any manner, including dividends that may be cumulative, noncumulative, or partially cumulative; or (4) Have preference over any other class or series of shares with respect to distributions, including distributions upon the dissolution of the corporation. The description of the preferences, rights, and limitations of classes or series of shares in this section is not exhaustive.