South Dakota Codified Laws 47-1A-1020. Amendment by board of directors or shareholders
Current as of: 2023 | Check for updates
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A corporation‘s shareholders may amend or repeal the corporation’s bylaws.
A corporation’s board of directors may amend or repeal the corporation’s bylaws, unless:
Terms Used In South Dakota Codified Laws 47-1A-1020
- 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.
(1) The articles of incorporation or § 47-1A-1021 reserve that power exclusively to the shareholders in whole or part; or
(2) The shareholders in amending, repealing, or adopting a bylaw expressly provide that the board of directors may not amend, repeal, or reinstate that bylaw.
Source: SL 2005, ch 239, § 246.