South Dakota § 47-24-17 Notice to attorney general before sale, transfer, conversion, or merger of at least thirty percent of assets--Information to be submitted to secretary of state.

South Dakota Statutes

§ 47-24-17 — Notice to attorney general before sale, transfer, conversion, or merger of at least thirty percent of assets--Information to be submitted to secretary of state.

South Dakota·Title 47 CORPORATIONS·Ch. 47-22 NONPROFIT CORPORATIONS--RECORDS, FISCAL AFFAIRS AND REPORTS

At least ten days prior to the sale, transfer, conversion, or merger of at least thirty percent of the assets of a nonprofit corporation, the corporation shall give written notice to the attorney general. The following information shall, within sixty days of such sale, transfer, or merger, be submitted to the secretary of state:

(1)Name and address of the parties involved in the sale, transfer, conversion, or merger;

(2)Terms and conditions of the sale, transfer, conversion, or merger;

(3)Dollar value of the assets being sold, transferred, converted, or merged, including an account of how the value was determined; and (4) An explanation of how the sale, transfer, conversion, or merger furthers the purpose of the nonprofit corporation. The information shall be submitted on fo

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At least ten days prior to the sale, transfer, conversion, or merger of at least thirty percent of the assets of a nonprofit corporation, the corporation shall give written notice to the attorney general. The following information shall, within sixty days of such sale, transfer, or merger, be submitted to the secretary of state: (1) Name and address of the parties involved in the sale, transfer, conversion, or merger; (2) Terms and conditions of the sale, transfer, conversion, or merger; (3) Dollar value of the assets being sold, transferred, converted, or merged, including an account of how the value was determined; and (4) An explanation of how the sale, transfer, conversion, or merger furthers the purpose of the nonprofit corporation. The information shall be submitted on forms provided by the secretary of state.

South Dakota § 47-24-17 (Notice to attorney general before sale, transfer, conversion, or merger of at least thirty percent of assets--Information to be submitted to secretary of state.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.