S.D. Codified Laws § 47-1A-1434
This is the official text of S.D. Codified Laws § 47-1A-1434, 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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Election to purchase in lieu of dissolution
Official statutory text
In a proceeding under subdivision 47-1A-1430(2) to dissolve a corporation that has no shares listed on a national securities exchange or regularly traded in a market maintained by one or more members of a national or affiliated securities association, the corporation may elect or, if it fails to elect, one or more shareholders may elect to purchase all shares owned by the petitioning shareholder at the fair value of the shares. An election pursuant to this section is irrevocable unless the court determines that it is equitable to set aside or modify the election.
Source: SL 2005, ch 239, § 338.
Source: SL 2005, ch 239, § 338.
Status: in_force · Read it on the official government site
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