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§ 47-1A-824.1 Director presence assent to action taken--Exceptions.

SD Codified L § 47-1A-824.1 (2019) (N/A)
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47-1A-824.1. Director presence assent to action taken--Exceptions. A director who is present at a meeting of the board of directors or a committee of the board of directors when corporate action is taken is deemed to have assented to the action taken unless:

(1) The director objects at the beginning of the meeting, or promptly upon arrival, to holding it or transacting business at the meeting;

(2) The director's dissent or abstention from the action taken is entered in the minutes of the meeting; or

(3) The director delivers written notice of dissent or abstention to the presiding officer of the meeting before its adjournment or to the corporation immediately after adjournment of the meeting.

The right of dissent or abstention is not available to a director who votes in favor of the action taken.

Source: SL 2005, ch 239, § 152.

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