S.D. Codified Laws § 47-1A-1602.3

Current through the 2024 Legislative Session

Section 47-1A-1602.3 - Abolition or limitation of right of inspection prohibited-Application

The right of inspection granted by §§ 47-1A-1602 to 47-1A-1602.2, inclusive, may not be abolished or limited by a corporation's articles of incorporation or bylaws.

The provisions of this section do not affect:

(1) The right of a shareholder to inspect records under § 47-1A-720 or, if the shareholder is in litigation with the corporation, to the same extent as any other litigant;

(2) The power of a court, independently of this chapter, to compel the production of corporate records for examination.

For purposes of §§ 47-1A-1602 to 47-1A-1602.3, inclusive, the term, shareholder, includes a beneficial owner whose shares are held in a voting trust or by a nominee on his behalf.

SDCL 47-1A-1602.3

SL 2005, ch 239, §376.