S.D. Codified Laws § 47-1A-604.3

Current through the 2024 Legislative Session

Section 47-1A-604.3 - Issuance of script-Authorization by board of directors-Conditions

The board of directors may authorize the issuance of scrip subject to any condition considered desirable, including:

(1) That the scrip will become void if not exchanged for full shares before a specified date; and

(2) That the shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders.

SDCL 47-1A-604.3

SL 2005, ch 239, §63.