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§ 47-26-3 Dissolution by board of directors in corporation without members entitled to vote.

SD Codified L § 47-26-3 (2019) (N/A)
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47-26-3. Dissolution by board of directors in corporation without members entitled to vote. Where there are no members, or no members entitled to vote thereon, the dissolution of the corporation shall be authorized at a meeting of the board of directors upon the adoption of a resolution to dissolve by the vote of a majority of the directors in office.

Source: SL 1965, ch 24, § 47 (2).

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§ 47-26-2 Vote of members--Meeting for vote--Notice of meeting--Contents of notice--Two-thirds vote required.
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§ 47-26-4 Resolution to dissolve--Cessation of business affairs--Notice of proposed dissolution to creditors--Collection and distribution of assets.