South Dakota Codified Laws 47-1A-721.2. Voting entitlement of redeemable shares
Current as of: 2023 | Check for updates
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Redeemable shares are not entitled to vote after notice of redemption is mailed to the holders and a sum sufficient to redeem the shares has been deposited with a bank, trust company, or other financial institution under an irrevocable obligation to pay the holders the redemption price on surrender of the shares.
Terms Used In South Dakota Codified Laws 47-1A-721.2
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Source: SL 2005, ch 239, § 98.