South Dakota Statutes
§ 47-26-16 — Involuntary dissolution by court decree--Action by attorney general--Grounds of action.
The provisions of § 47-24-13.1 notwithstanding, a corporation may be dissolved involuntarily by a decree of the circuit court in an action filed by the attorney general if it is established that:
(1)The corporation procured its articles of incorporation through fraud; or (2) The corporation has continued to exceed or abuse the authority conferred upon it by law.
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South Dakota § 47-26-16 (Involuntary dissolution by court decree--Action by attorney general--Grounds of action.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Forest Home Cemetery Ass'n v. Dardanella Financial Corp.
329 N.W.2d 885 (South Dakota Supreme Court, 1983)
Legislative History
SL 1965, ch 24, § 53; SL 1967, ch 14, § 1; SL 1989, ch 393, § 31.
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Repealed§ 47-1-3
Repealed§ 47-10-1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.