South Dakota Statutes
§ 47-24-3 — Shares of stock prohibited--Dividends and profits prohibited.
South Dakota·Title 47 CORPORATIONS·Ch. 47-22 NONPROFIT CORPORATIONS--RECORDS, FISCAL AFFAIRS AND REPORTS
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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South Dakota § 47-24-3 (Shares of stock prohibited--Dividends and profits prohibited.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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Repealed§ 47-1-3
Repealed§ 47-10-1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
Powers of corporations.