South Dakota Statutes
§ 47-1A-602 — Classification or reclassification of unissued shares determined by board of directors.
If the articles of incorporation so provide, the board of directors, without shareholder approval, may:
(1)Classify any unissued shares into one or more classes or into one or more series within a class;
(2)Reclassify any unissued shares of any class into one or more classes or into one or more series within one or more classes; or (3) Reclassify any unissued shares of any series of any class into one or more classes or into one or more series within a class.
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South Dakota § 47-1A-602 (Classification or reclassification of unissued shares determined by board of directors.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2005, ch 239, § 56.
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Repealed§ 47-1-3
Repealed§ 47-10-1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.