LegalFix
Sign In

§ 47-22-72 Circumstances under which ultra vires may be asserted--Actions by attorney general to dissolve or enjoin corporation.

SD Codified L § 47-22-72 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

47-22-72. Circumstances under which ultra vires may be asserted--Actions by attorney general to dissolve or enjoin corporation. Notwithstanding § 47-22-69, the fact that a corporation is without capacity or power to do an act or to make or receive a conveyance or transfer of real or personal property may be asserted in a proceeding by the attorney general, as provided in chapter 47-26, to dissolve the corporation, or in a proceeding by the attorney general to enjoin the corporation from performing unauthorized acts, or in any other proceeding by the attorney general.

Source: SL 1965, ch 24, § 6 (3).

Previous Section
§ 47-22-71 Circumstances under which ultra vires may be asserted--Actions by corporation against officers or directors.
Next Section
§ 47-22-73 Unauthorized acting as corporation--Liability.