S.D. Codified Laws § 47-10-12

Current through the 2024 Legislative Session

Section 47-10-12 - Capitalization-Minimum capital before commencing business

At least twenty-five percent of the capital stock authorized in the articles of incorporation shall be paid into the treasury of the corporation in cash before the corporation shall be authorized to transact any business other than such as relates to its organization.

SDCL 47-10-12

SL 1957, ch 314, § 3; SDC Supp 1960, § 55.6003.