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§ 47-1A-627.2 Terms of restriction on transfer or registration of transfer of shares.

SD Codified L § 47-1A-627.2 (2019) (N/A)
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47-1A-627.2. Terms of restriction on transfer or registration of transfer of shares. A restriction on the transfer or registration of transfer of shares may:

(1) Obligate the shareholder first to offer the corporation or other persons, separately, consecutively, or simultaneously, an opportunity to acquire the restricted shares;

(2) Obligate the corporation or other persons, separately, consecutively, or simultaneously, to acquire the restricted shares;

(3) Require the corporation, the holders of any class of its shares, or another person to approve the transfer of the restricted shares, if the requirement is not manifestly unreasonable;

(4) Prohibit the transfer of the restricted shares to designated persons or classes of persons, if the prohibition is not manifestly unreasonable.Source: SL 2005, ch 239, § 76.

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§ 47-1A-627.1 Purposes for which restriction on transfer of shares and registration of transfer of shares authorized--Validity and enforceability of restriction.
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§ 47-1A-628 Expense of issueSUBPART C. SUBSEQUENT ACQUISITION OF SHARES BY SHAREHOLDERS AND