South Dakota Codified Laws 37-4-4. Exchange rules controlling distribution of member profits deemed unreasonable
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Any rule, regulation, or bylaw of a public market subject to this chapter which shall be designated or construed as controlling, limiting, or modifying the articles of incorporation, constitution, or bylaws of any association, company, or corporation in the distribution of its profits to its stockholders and members shall be deemed to be unreasonable.
Terms Used In South Dakota Codified Laws 37-4-4
- 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.
Source: SDC 1939, § 54.0802.