South Dakota Statutes
§ 47-23-25 — Removal of officers--Contract rights unaffected.
South Dakota·Title 47 CORPORATIONS·Ch. 47-22 NONPROFIT CORPORATIONS--MEMBERS, DIRECTORS, OFFICERS AND AGENTS
Any officer or agent elected or appointed may be removed by the persons authorized to elect or appoint such officer whenever in their judgment the best interests of the corporation will be served thereby. The removal of an officer or agent shall be without prejudice to the contract rights, if any, of the officer so removed. Election or appointment of an officer or agent shall not of itself create contract rights.
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South Dakota § 47-23-25 (Removal of officers--Contract rights unaffected.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Nelson v. WEB Water Development Ass'n, Inc.
507 N.W.2d 691 (South Dakota Supreme Court, 1993)
Legislative History
SL 1965, ch 24, § 26.
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Repealed§ 47-1-3
Repealed§ 47-10-1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.