South Dakota Codified Laws 47-1A-1431.1. Shareholders as parties
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It is not necessary to make shareholders parties to a proceeding to dissolve a corporation unless relief is sought against them individually.
Terms Used In South Dakota Codified Laws 47-1A-1431.1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Proceeding: includes civil suit and criminal, administrative, and investigatory action. See South Dakota Codified Laws 47-1A-140
Source: SL 2005, ch 239, § 333.