South Dakota Codified Laws 47-1A-1420. Grounds for administrative dissolution
The Office of the Secretary of State may commence a proceeding under § 47-1A-1421 to administratively dissolve a corporation if:
(1) The corporation does not pay within sixty days after they are due any filing fees or penalties imposed by this chapter or other law;
Terms Used In South Dakota Codified Laws 47-1A-1420
- 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.
- Proceeding: includes civil suit and criminal, administrative, and investigatory action. See South Dakota Codified Laws 47-1A-140
(2) The corporation does not deliver its annual report to the Office of the Secretary of State within sixty days after it is due;
(3) The corporation is without a registered agent in this state for sixty days or more;
(4) The corporation does not notify the Office of the Secretary of State within sixty days that its registered agent has been changed or that its registered agent has resigned; or
(5) The corporation’s period of duration stated in its articles of incorporation expires.
Source: SL 2005, ch 239, § 327; SL 2008, ch 275, § 41.