South Dakota Statutes
§ 47-25-27 — Abandonment of transfer plan after vote of members--Rights of third parties.
After authorization by a vote of members pursuant to § 47-25-26 , the board of directors, nevertheless, in its discretion, may abandon a sale, lease, exchange, mortgage, pledge, or other disposition of assets described in § 47-25-24 , subject to the rights of third parties under any contracts relating thereto, without further action or approval by members.
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South Dakota § 47-25-27 (Abandonment of transfer plan after vote of members--Rights of third parties.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1965, ch 24, § 46 (1).
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Repealed§ 47-1-3
Repealed§ 47-10-1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.