South Dakota Codified Laws 47-16-35. Actions by stockholders or members–Allegations respecting ownership
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No action may be instituted or maintained in the right of any association by a member or stockholder unless he alleges in his complaint that he was a member or registered stockholder when any part of the transaction of which he complains took place, or that his stock thereafter devolved upon him by operation of law from a stockholder at such time.
Terms Used In South Dakota Codified Laws 47-16-35
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
Source: SDC 1939, § 11.1153 (1) (a) as enacted by SL 1965, ch 23, § 1.