LegalFix
Sign In

§ 47-26-13 Revocation of dissolution resolution--Meeting--Notice of meeting--Two-thirds vote required.

SD Codified L § 47-26-13 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

47-26-13. Revocation of dissolution resolution--Meeting--Notice of meeting--Two-thirds vote required. Where there are members entitled to vote thereon, the board of directors shall adopt a resolution recommending that the voluntary dissolution proceedings be revoked, and directing that the question of such revocation be submitted to a vote at a meeting of members entitled to vote thereon, which may be either an annual or a special meeting. Written notice stating that the purpose, or one of the purposes, of such meeting is to consider the advisability of revoking the voluntary dissolution proceedings, shall be given to each member entitled to vote at such meeting, within the time and in the manner provided in chapter 47-23 for the giving of notice of meetings of members. A resolution to revoke the voluntary dissolution proceedings shall be adopted upon receiving at least two-thirds of the votes entitled to be cast by members present or represented by proxy at such meeting.

Source: SL 1965, ch 24, § 50 (1).

Previous Section
§ 47-26-12 Revocation of dissolution action--Procedure.
Next Section
§ 47-26-14 Revocation in corporation having no members entitled to vote.