South Dakota § 47-1A-627.2 Terms of restriction on transfer or registration of transfer of shares.

South Dakota Statutes

§ 47-1A-627.2 — Terms of restriction on transfer or registration of transfer of shares.

South Dakota § 47-1A-627.2

Title 47CORPORATIONS

Ch. 47-1SOUTH DAKOTA BUSINESS CORPORATION ACT

This text of South Dakota § 47-1A-627.2 (Terms of restriction on transfer or registration of transfer of shares.) 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-627.2 (2026).

Text

A restriction on the transfer or registration of transfer of shares may:

(1)Obligate the shareholder first to offer the corporation or other persons, separately, consecutively, or simultaneously, an opportunity to acquire the restricted shares;

(2)Obligate the corporation or other persons, separately, consecutively, or simultaneously, to acquire the restricted shares;

(3)Require the corporation, the holders of any class of its shares, or another person to approve the transfer of the restricted shares, if the requirement is not manifestly unreasonable;

(4)Prohibit the transfer of the restricted shares to designated persons or classes of persons, if the prohibition is not manifestly unreasonable.

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A restriction on the transfer or registration of transfer of shares may: (1) Obligate the shareholder first to offer the corporation or other persons, separately, consecutively, or simultaneously, an opportunity to acquire the restricted shares; (2) Obligate the corporation or other persons, separately, consecutively, or simultaneously, to acquire the restricted shares; (3) Require the corporation, the holders of any class of its shares, or another person to approve the transfer of the restricted shares, if the requirement is not manifestly unreasonable; (4) Prohibit the transfer of the restricted shares to designated persons or classes of persons, if the prohibition is not manifestly unreasonable.