LegalFix
Sign In

§ 47-1A-603 Issuance of shares--Outstanding until reacquired, redeemed, converted, or cancelled.

SD Codified L § 47-1A-603 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

47-1A-603. Issuance of shares--Outstanding until reacquired, redeemed, converted, or cancelled. A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted, or cancelled. The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of § 47-1A-603.1 and §§ 47-1A-640 to 47-1A-640.5, inclusive.

Source: SL 2005, ch 239, § 58.

Previous Section
§ 47-1A-602.1 Terms of class or series determined by board of directors.
Next Section
§ 47-1A-603.1 Outstanding shares--Shares with unlimited voting rights and entitled to receipt of net assets upon dissolution required.