South Dakota § 47-26-7 Membership vote on plan--Meeting--Notice of meeting--Two

South Dakota Statutes

§ 47-26-7 — Membership vote on plan--Meeting--Notice of meeting--Two

South Dakota·Title 47 CORPORATIONS·Ch. 47-26 NONPROFIT CORPORATIONS--DISSOLUTION AND LIQUIDATION

Where there are members entitled to vote thereon, the board of directors shall adopt a resolution recommending a plan of distribution and directing the submission thereof to a vote at a meeting of members entitled to vote thereon, which may be either an annual or a special meeting. Written notice setting forth the proposed plan of distribution or a summary thereof shall be given to each member entitled to vote at such meeting, within the time and in the manner provided by chapter 47-23 for the giving of notice of meeting of members. Such plan of distribution shall be adopted upon receiving at least two - thirds of the votes entitled to be cast by members present or represented by proxy at such meeting.

Free access — add to your briefcase to read the full text and ask questions with AI

Where there are members entitled to vote thereon, the board of directors shall adopt a resolution recommending a plan of distribution and directing the submission thereof to a vote at a meeting of members entitled to vote thereon, which may be either an annual or a special meeting. Written notice setting forth the proposed plan of distribution or a summary thereof shall be given to each member entitled to vote at such meeting, within the time and in the manner provided by chapter 47-23 for the giving of notice of meeting of members. Such plan of distribution shall be adopted upon receiving at least two - thirds of the votes entitled to be cast by members present or represented by proxy at such meeting.

South Dakota § 47-26-7 (Membership vote on plan--Meeting--Notice of meeting--Two) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.