South Dakota Codified Laws 47-1A-730.1. Extension of voting trust for additional terms–Agreement
Current as of: 2023 | Check for updates
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All or some of the parties to a voting trust may extend it for additional terms by signing written consent to the extension. An extension is valid for the duration stated in the extension agreement and is valid from the date the first shareholder signs the extension agreement. The voting trustee shall deliver copies of the extension agreement and list of all voting trust beneficial owners to the corporation‘s principal office. An extension agreement binds only those parties signing it.
Terms Used In South Dakota Codified Laws 47-1A-730.1
- 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.
- Trustee: A person or institution holding and administering property in trust.
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
Source: SL 2005, ch 239, § 114; SL 2015, ch 228, § 2.