South Dakota Statutes
§ 47-25A-12 — Abandonment of for-profit conversion.
South Dakota § 47-25A-12
JurisdictionSouth Dakota
Title 47CORPORATIONS
Ch. 47-25ANONPROFIT CORPORATIONS--DOMESTICATION AND CONVERSION
This text of South Dakota § 47-25A-12 (Abandonment of for-profit conversion.) 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 § 47-25A-12 (2026).
Text
(a)Unless otherwise provided in a plan of for-profit conversion of a domestic nonprofit corporation, after the plan has been adopted and approved, and at any time before the for-profit conversion has become effective, it may be abandoned by the board of directors without action by the members.
(b)If a for-profit conversion is abandoned under paragraph (a) after articles of for-profit conversion are filed with the Office of the Secretary of State but before the for-profit conversion has become effective, a statement that the for-profit conversion has been abandoned in accordance with this section, signed by an officer or other duly authorized representative, must be delivered to the Office of the Secretary of State for filing prior to the effective date of the for-profit conversion. The s
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Legislative History
SL 2016, ch 221, § 27.
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Repealed§ 47-1-3
Repealed§ 47-10-1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 § 47-25A-12, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-25A-12.