South Dakota Codified Laws 3-12C-205. Resignation of trustee due to loss of qualifying status–Filling of vacancy
If any trustee no longer serves in the capacity that qualified the trustee for membership on the board, the trustee is considered to have resigned from the board on June thirtieth of the following calendar year. The vacancy created by the resignation shall be filled through the annual election process. However, if the vacancy is not filled through the annual election process, the board shall fill the vacancy by appointment. The person elected or appointed shall serve a four-year term regardless of the time remaining in the term of the trustee who ceased serving in the qualifying capacity. The provisions of this section do not apply to any trustee who, on January 1, 2019, is no longer serving in the capacity that qualified the trustee.
Terms Used In South Dakota Codified Laws 3-12C-205
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Trustee: A person or institution holding and administering property in trust.
Source: SL 1959, ch 84, § 8; SDC Supp 1960, § 15.3912; SL 1961, ch 255, § 7; SDCL §§ 9-15-6, 13-45-12; SL 1970, ch 106, § 2; SL 1974, ch 35, § 11; SL 1982, ch 32, § 2; SL 2011, ch 21, § 2; SDCL § 3-12-53; SL 2019, ch 22, § 1; SL 2019, ch 23, § 6.