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§ 47-1A-602.1 Terms of class or series determined by board of directors.

SD Codified L § 47-1A-602.1 (2019) (N/A)
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47-1A-602.1. Terms of class or series determined by board of directors. If the board of directors acts pursuant to § 47-1A-602, the board shall determine the terms, including the preferences, rights, and limitations, to the same extent permitted under §§ 47-1A-601 to 47-1A-601.2, inclusive, of:

(1) Any class of shares before the issuance of any shares of that class; or

(2) Any series within a class before the issuance of any shares of that series.

Before issuing any shares of a class or series created under § 47-1A-602, the corporation shall deliver to the Office of the Secretary of State for filing articles of amendment setting forth the terms determined under this section.

Source: SL 2005, ch 239, § 57.

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