South Dakota Codified Laws 47-1A-1107.1. Rights of shares of domestic corporation exchanged
Current as of: 2023 | Check for updates
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When a share exchange becomes effective, the shares of each domestic corporation that are to be exchanged for shares or other securities, interests, obligations, rights to acquire shares or other securities, cash, other property, or any combination of the foregoing, are entitled only to the rights provided to them in the plan of share exchange or to any rights they may have under §§ 47-1A-1301 to 47-1A-1331.2, inclusive.
Terms Used In South Dakota Codified Laws 47-1A-1107.1
- 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.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 2005, ch 239, § 267.