South Dakota Codified Laws 47-1A-1107.3. Effect of merger on surviving foreign corporation or foreign eligible entity
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Upon a merger becoming effective, a foreign corporation, or a foreign eligible entity, that is the survivor of the merger is deemed to:
(1) Agree that service of process in a proceeding to enforce the rights of shareholders of each domestic corporation that is a party to the merger who exercise appraisal rights may be made in the manner provided in §§ 59-11-16 to 59-11-19, inclusive; and
Terms Used In South Dakota Codified Laws 47-1A-1107.3
- Appraisal: A determination of property value.
- 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.
- Entity: includes domestic and foreign business corporation. See South Dakota Codified Laws 47-1A-140
- Proceeding: includes civil suit and criminal, administrative, and investigatory action. See South Dakota Codified Laws 47-1A-140
- Service of process: The service of writs or summonses to the appropriate party.
(2) Agree that it will promptly pay the amount, if any, to which such shareholders are entitled under §§ 47-1A-1301 to 47-1A-1331.2, inclusive.
Source: SL 2005, ch 239, § 269; SL 2008, ch 275, § 37.