S.D. Codified Laws § 47-1A-703

Current through the 2024 Legislative Session

Section 47-1A-703 - Court-ordered meeting

The circuit court of the county where a corporation's principal office is located in this state, or, if none in this state, the circuit court of Hughes County, may summarily order a meeting to be held:

(1) On application of any shareholder of the corporation entitled to participate in an annual meeting if an annual meeting was not held within the earlier of six months after the end of the corporation's fiscal year or fifteen months after its last annual meeting; or

(2) On application of a shareholder who signed a demand for a special meeting valid under § 47-1A-702, if:

(a) Notice of the special meeting was not given within thirty days after the date the demand was delivered to the corporation's secretary; or

(b) The special meeting was not held in accordance with the notice.

The court may fix the time and place of the meeting, determine the shares entitled to participate in the meeting, specify a record date for determining shareholders entitled to notice of and to vote at the meeting, prescribe the form and content of the meeting notice, fix the quorum required for specific matters to be considered at the meeting, or direct that the votes represented at the meeting constitute a quorum for action on those matters, and enter other orders necessary to accomplish the purposes of the meeting.

SDCL 47-1A-703

SL 2005, ch 239, §88; SL 2008, ch 275, §33.