South Dakota Statutes
§ 58-5-54 — Place for holding meetings of stockholders or members--Waiver.
Meetings of stockholders or members of a domestic insurer shall be held in the municipality of its home office or principal office or place of business in this state. However, the director may waive the provisions of this section if a wholly owned subsidiary or a company is located in a small municipality without sufficient facilities to accommodate such a meeting and such subsidiary or company can demonstrate, to the director's satisfaction, a need for such waiver. The director may also waive the provisions of this section if one percent or less of the outstanding shares of stock entitled to vote are owned by South Dakota residents.
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South Dakota § 58-5-54 (Place for holding meetings of stockholders or members--Waiver.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1966, ch 111, ch 16, § 18(1); SL 1988, ch 388; SL 1990, ch 391.
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.