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§ 47-1A-602 Classification or reclassification of unissued shares determined by board of directors.

SD Codified L § 47-1A-602 (2019) (N/A)
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47-1A-602. Classification or reclassification of unissued shares determined by board of directors. If the articles of incorporation so provide, the board of directors, without shareholder approval, may:

(1) Classify any unissued shares into one or more classes or into one or more series within a class;

(2) Reclassify any unissued shares of any class into one or more classes or into one or more series within one or more classes; or

(3) Reclassify any unissued shares of any series of any class into one or more classes or into one or more series within a class.Source: SL 2005, ch 239, § 56.

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§ 47-1A-601.2 Classes or series of shares articles of incorporation may authorize.
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§ 47-1A-602.1 Terms of class or series determined by board of directors.