South Dakota § 47-1A-722.2 Appointment of proxy revocable--Exception.

South Dakota Statutes

§ 47-1A-722.2 — Appointment of proxy revocable--Exception.

South Dakota § 47-1A-722.2

Title 47CORPORATIONS

Ch. 47-1SOUTH DAKOTA BUSINESS CORPORATION ACT

This text of South Dakota § 47-1A-722.2 (Appointment of proxy revocable--Exception.) 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-722.2 (2026).

Text

An appointment of a proxy is revocable unless the appointment form or electronic transmission states that it is irrevocable and the appointment is coupled with an interest. Appointments coupled with an interest include the appointment of:

(1)A pledgee;

(2)A person who purchased or agreed to purchase the shares;

(3)A creditor of the corporation who extended it credit under terms requiring the appointment;

(4)An employee of the corporation whose employment contract requires the appointment; or (5) A party to a voting agreement created under § 47-1A-731 . An appointment made irrevocable under this section is revoked when the interest with which it is coupled is extinguished.

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An appointment of a proxy is revocable unless the appointment form or electronic transmission states that it is irrevocable and the appointment is coupled with an interest. Appointments coupled with an interest include the appointment of: (1) A pledgee; (2) A person who purchased or agreed to purchase the shares; (3) A creditor of the corporation who extended it credit under terms requiring the appointment; (4) An employee of the corporation whose employment contract requires the appointment; or (5) A party to a voting agreement created under § 47-1A-731 . An appointment made irrevocable under this section is revoked when the interest with which it is coupled is extinguished.