South Dakota § 47-26-6 Plan for distribution of assets--Adoption of plan.

South Dakota Statutes

§ 47-26-6 — Plan for distribution of assets--Adoption of plan.

South Dakota § 47-26-6

Title 47CORPORATIONS

Ch. 47-26NONPROFIT CORPORATIONS--DISSOLUTION AND LIQUIDATION

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Bluebook

S.D. Codified Laws § 47-26-6 (2026).

Text

A plan providing for the distribution of assets, not inconsistent with the provisions of chapters 47-22 to 47-28 , inclusive, may be adopted by a corporation in the process of dissolution and shall be adopted by a corporation for the purpose of authorizing any transfer or conveyance of assets for which this chapter requires a plan of distribution, in the manner provided by §§ 47-26-7 and 47-26-8 .

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A plan providing for the distribution of assets, not inconsistent with the provisions of chapters 47-22 to 47-28 , inclusive, may be adopted by a corporation in the process of dissolution and shall be adopted by a corporation for the purpose of authorizing any transfer or conveyance of assets for which this chapter requires a plan of distribution, in the manner provided by §§ 47-26-7 and 47-26-8 .