South Dakota Codified Laws 47-26-24. Power of court in liquidation proceedings–Application by corporation
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Courts of equity shall have full power to liquidate the assets and affairs of a corporation upon application by a corporation to have its dissolution continued under the supervision of the court.
Terms Used In South Dakota Codified Laws 47-26-24
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
Source: SL 1965, ch 24, § 56 (3).