S.D. Codified Laws § 51A-3-13
This is the official text of S.D. Codified Laws § 51A-3-13, 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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Subscription of shares--Minimum collection--Refund on disapproval of application
Official statutory text
The incorporators shall collect an amount equal to not less than ten percent of the subscription price of each share of stock subscribed for at the time such subscriptions are issued. If the application is disapproved by the director or commission, that portion of the moneys so collected remaining after the payment of the expenses incidental to such application shall be proportionally refunded to the subscribers.
Source: SL 1969, ch 11, § 3.12; SL 1970, ch 265, § 19; SDCL § 51-17-13; SL 1988, ch 377, § 63; SDCL § 51-17-18.1; SL 2012, ch 252, § 10.
Source: SL 1969, ch 11, § 3.12; SL 1970, ch 265, § 19; SDCL § 51-17-13; SL 1988, ch 377, § 63; SDCL § 51-17-18.1; SL 2012, ch 252, § 10.
Status: in_force · Read it on the official government site
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