S.D. Codified Laws § 47-1A-862

This is the official text of S.D. Codified Laws § 47-1A-862, 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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Directors' action respecting transaction--Effectiveness

Official statutory text

Directors' action respecting a transaction is effective for purposes of subdivision 47-1A-861.1 (1) if the transaction received the affirmative vote of a majority, but no fewer than one, of those qualified directors on the board of directors or on a duly empowered committee of the board who voted on the transaction after either required disclosure to them, to the extent the information was not known by them, or compliance with § 47-1A-861.1 . However, action by a committee is effective only if:

(1) At least one of its members is a qualified director; and

(2) Its members are either all the qualified directors on the board or are appointed by the affirmative vote of a majority of the qualified directors on the board.

Source: SL 2005, ch 239, § 186; SL 2019, ch 196, § 1.

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.