S.D. Codified Laws § 47-1A-1302.3
This is the official text of S.D. Codified Laws § 47-1A-1302.3, part of South Dakota’s Codified Laws — part of the compiled statutory law of South Dakota, published by the state as "Codified Laws." Browse the sections below, each linked to its official government source.
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Challenge of specified completed corporate actions--Limitation
Official statutory text
No shareholder may challenge a completed corporate action described in § 47-1A-1302 , other than those subscribed in subdivisions 47-1A-1302.1 (3) and (4), unless such corporate action:
(1) Was not effectuated in accordance with the applicable provisions of §§ 47-1A-901 to 47-1A-1202.6 , inclusive, or the corporation's articles of incorporation, bylaws or board of directors' resolution authorizing the corporate action; or
(2) Was procured as a result of fraud or material misrepresentation.
Source: SL 2005, ch 239, § 284.
(1) Was not effectuated in accordance with the applicable provisions of §§ 47-1A-901 to 47-1A-1202.6 , inclusive, or the corporation's articles of incorporation, bylaws or board of directors' resolution authorizing the corporate action; or
(2) Was procured as a result of fraud or material misrepresentation.
Source: SL 2005, ch 239, § 284.
Status: in_force · Read it on the official government site
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