South Dakota Statutes
§ 47-25-28 — Authorization for transfer in corporation having no members entitled to vote.
Where there are no members, or no members entitled to vote thereon, a sale, lease, exchange, mortgage, pledge, or other disposition of all, or substantially all, the property and assets of a corporation shall be authorized upon receiving the vote of a majority of the directors in office.
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South Dakota § 47-25-28 (Authorization for transfer in corporation having no members entitled to vote.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1965, ch 24, § 46 (2).
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Repealed§ 47-1-3
Repealed§ 47-10-1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.