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§ 47-1A-732.1 Form, approval, amendment, and term of shareholder agreements.

SD Codified L § 47-1A-732.1 (2019) (N/A)
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47-1A-732.1. Form, approval, amendment, and term of shareholder agreements. Any agreement authorized by § 47-1A-732 shall be:

(1) Set forth in the articles of incorporation or bylaws and approved by all persons who are shareholders at the time of the agreement, or in a written agreement that is signed by all persons who are shareholders at the time of the agreement and is made known to the corporation;

(2) Subject to amendment only by all persons who are shareholders at the time of the amendment, unless the agreement provides otherwise; and

(3) Valid for ten years, unless the agreement provides otherwise.Source: SL 2005, ch 239, § 117.

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§ 47-1A-732 Shareholder agreements--Effectiveness.
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§ 47-1A-732.2 Existence of agreement to be noted on certificate--Right of rescission on purchase of shares without notice of agreement.