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§ 47-1A-732.3 Limitations on effectiveness of agreement--Amendment to articles of incorporation or bylaws.

SD Codified L § 47-1A-732.3 (2019) (N/A)
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47-1A-732.3. Limitations on effectiveness of agreement--Amendment to articles of incorporation or bylaws. An agreement authorized by § 47-1A-732 shall cease to be effective when shares of the corporation are listed on a national securities exchange or regularly traded in a market maintained by one or more members of a national or affiliated securities association. If the agreement ceases to be effective for any reason, the board of directors may, if the agreement is contained or referred to in the corporation's articles of incorporation or bylaws, adopt an amendment to the articles of incorporation or bylaws, without shareholder action, to delete the agreement and any references to it.

Source: SL 2005, ch 239, § 119.

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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.
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§ 47-1A-732.4 Liability of directors limited to extent discretion or powers limited by agreement.