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§ 47-1A-744.1 Groups authorized to make determination that maintenance of proceeding not in best interest of corporation.

SD Codified L § 47-1A-744.1 (2019) (N/A)
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47-1A-744.1. Groups authorized to make determination that maintenance of proceeding not in best interest of corporation. Unless a panel is appointed pursuant to § 47-1A-744.5, the determination in § 47-1A-744 shall be made by:

(1) A majority vote of independent directors present at a meeting of the board of directors if the independent directors constitute a quorum; or

(2) A majority vote of a committee consisting of two or more independent directors appointed by majority vote of independent directors present at a meeting of the board of directors, whether or not such independent directors constituted a quorum.Source: SL 2005, ch 239, § 128.

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§ 47-1A-744 Dismissal upon determination that maintenance of proceeding not in best interests of corporation.
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§ 47-1A-744.2 Factors not pertinent to determining independence of directors.