LegalFix
Sign In

§ 47-1A-808 Removal of directors by shareholders.

SD Codified L § 47-1A-808 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

47-1A-808. Removal of directors by shareholders. The shareholders may remove one or more directors, with or without cause, unless the articles of incorporation provide that directors may be removed only for cause. If a director is elected by a voting group of shareholders, only the shareholders of that voting group may participate in the vote to remove that director.

If cumulative voting is authorized, a director may not be removed if the number of votes sufficient to elect that director under cumulative voting is voted against removal. If cumulative voting is not authorized, a director may be removed only if the number of votes cast to remove that director exceeds the number of votes cast not to remove that director.

A director may be removed by the shareholders only at a meeting called for the purpose of removing that director and the meeting notice must state that the purpose, or one of the purposes, of the meeting is removal of the director.

Source: SL 2005, ch 239, § 143.

Previous Section
§ 47-1A-807 Resignation of directors.
Next Section
§ 47-1A-809 Removal of directors by judicial proceeding.