South Dakota Statutes
§ 47-25-27 — Abandonment of transfer plan after vote of members--Rights of third parties.
South Dakota § 47-25-27
This text of South Dakota § 47-25-27 (Abandonment of transfer plan after vote of members--Rights of third parties.) 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 § 47-25-27 (2026).
Text
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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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Repealed§ 47-1-3
Repealed§ 47-10-1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
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Bluebook (online)
South Dakota § 47-25-27, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-25-27.