South Dakota Statutes
§ 47-24-3 — Shares of stock prohibited--Dividends and profits prohibited.
South Dakota § 47-24-3
JurisdictionSouth Dakota
Title 47CORPORATIONS
Ch. 47-22NONPROFIT CORPORATIONS--RECORDS, FISCAL AFFAIRS AND REPORTS
This text of South Dakota § 47-24-3 (Shares of stock prohibited--Dividends and profits prohibited.) 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 § 47-24-3 (2026).
Text
A corporation shall not have or issue shares of stock. No dividend shall be paid and no part of the income or profit of a corporation shall be distributed to its members, directors, or officers.
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Legislative History
SL 1965, ch 24, § 28.
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Repealed§ 47-1-3
Repealed§ 47-10-1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
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Bluebook (online)
South Dakota § 47-24-3, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-24-3.