South Dakota Codified Laws 47-1A-604. Fractional shares–Scrip
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A corporation may:
(1) Issue fractions of a share or pay in money the value of fractions of a share;
Terms Used In South Dakota Codified Laws 47-1A-604
- 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.
(2) Arrange for disposition of fractional shares by the shareholders;
(3) Issue scrip in registered or bearer form entitling the holder to receive a full share upon surrendering enough scrip to equal a full share.
Source: SL 2005, ch 239, § 60.