South Dakota § 47-21-41 Articles of dissolution--Contents of articles.

South Dakota Statutes

§ 47-21-41 — Articles of dissolution--Contents of articles.

South Dakota·Title 47 CORPORATIONS·Ch. 47-21 RURAL ELECTRIC COOPERATIVES

The board of directors shall, upon completion of the acts required by § 47-21-40 , authorize the execution of articles of dissolution, which shall be executed and acknowledged on behalf of the cooperative by its president or vice - president, and its seal shall be affixed thereto and attested by its secretary. The articles of dissolution shall recite that they are executed pursuant to this chapter and shall state:

(1)The name of the cooperative;

(2)The address of its principal office;

(3)The date on which the certificate of election to dissolve was filed by the secretary of state;

(4)That there are no actions or suits pending against the cooperative;

(5)That all debts, obligations, and liabilities of the cooperative have been paid and discharged or that adequate provisi

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The board of directors shall, upon completion of the acts required by § 47-21-40 , authorize the execution of articles of dissolution, which shall be executed and acknowledged on behalf of the cooperative by its president or vice - president, and its seal shall be affixed thereto and attested by its secretary. The articles of dissolution shall recite that they are executed pursuant to this chapter and shall state: (1) The name of the cooperative; (2) The address of its principal office; (3) The date on which the certificate of election to dissolve was filed by the secretary of state; (4) That there are no actions or suits pending against the cooperative; (5) That all debts, obligations, and liabilities of the cooperative have been paid and discharged or that adequate provision has been made therefor; and (6) That the provisions of §§ 47-21-36 to 47-21-40 , inclusive, have been duly complied with. The president or vice - president executing the articles of dissolution shall make and annex thereto an affidavit stating that the statements made therein are true.

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