S.D. Codified Laws § 47-1A-640
This is the official text of S.D. Codified Laws § 47-1A-640, 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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Distributions to shareholders authorized--Distribution entitlement date
Official statutory text
A board of directors may authorize, and the corporation may make, distributions to its shareholders subject to restriction by the articles of incorporation and the limitation in § 47-1A-640.1 . If the board of directors does not fix the record date for determining shareholders entitled to a distribution, other than one involving a purchase, redemption, or other acquisition of the corporation's shares, it is the date the board of directors authorizes the distribution.
Source: SL 2005, ch 239, § 80.
Source: SL 2005, ch 239, § 80.
Status: in_force · Read it on the official government site
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