South Dakota Statutes
§ 47-1A-604.3 — Issuance of script--Authorization by board of directors--Conditions.
South Dakota § 47-1A-604.3
This text of South Dakota § 47-1A-604.3 (Issuance of script--Authorization by board of directors--Conditions.) 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-604.3 (2026).
Text
The board of directors may authorize the issuance of scrip subject to any condition considered desirable, including:
(1)That the scrip will become void if not exchanged for full shares before a specified date; and (2) That the shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders.
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Legislative History
SL 2005, ch 239, § 63.
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Repealed§ 47-1-3
Repealed§ 47-10-1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
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Bluebook (online)
South Dakota § 47-1A-604.3, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-1A-604.3.