S.D. Codified Laws § 47-1A-722.2
This is the official text of S.D. Codified Laws § 47-1A-722.2, 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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Appointment of proxy revocable--Exception
Official statutory text
An appointment of a proxy is revocable unless the appointment form or electronic transmission states that it is irrevocable and the appointment is coupled with an interest. Appointments coupled with an interest include the appointment of:
(1) A pledgee;
(2) A person who purchased or agreed to purchase the shares;
(3) A creditor of the corporation who extended it credit under terms requiring the appointment;
(4) An employee of the corporation whose employment contract requires the appointment; or
(5) A party to a voting agreement created under § 47-1A-731 .
An appointment made irrevocable under this section is revoked when the interest with which it is coupled is extinguished.
Source: SL 2005, ch 239, § 101.
(1) A pledgee;
(2) A person who purchased or agreed to purchase the shares;
(3) A creditor of the corporation who extended it credit under terms requiring the appointment;
(4) An employee of the corporation whose employment contract requires the appointment; or
(5) A party to a voting agreement created under § 47-1A-731 .
An appointment made irrevocable under this section is revoked when the interest with which it is coupled is extinguished.
Source: SL 2005, ch 239, § 101.
Status: in_force · Read it on the official government site
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