South Dakota Codified Laws 47-27-32. Withdrawal of foreign corporation from state–Certificate of withdrawal–Application to secretary of state–Contents of application
Any foreign corporation authorized to engage in business in this state may withdraw from this state after obtaining from the secretary of state a certificate of withdrawal. To obtain a certificate of withdrawal, the foreign corporation shall deliver to the secretary of state an application for withdrawal, which shall set forth:
(1) The name of the corporation and the state or country under whose laws it is incorporated;
Terms Used In South Dakota Codified Laws 47-27-32
- 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.
- Fiduciary: A trustee, executor, or administrator.
- Service of process: The service of writs or summonses to the appropriate party.
- Trustee: A person or institution holding and administering property in trust.
(2) That the corporation is not doing or engaging in any business in this state;
(3) That the corporation surrenders its authority to do or engage in any business in this state;
(4) That the corporation revokes the authority of its registered agent in this state to accept service of process and consents that service of process in any action, suit or proceeding based upon any cause of action arising in this state during the time the corporation was authorized to conduct affairs in this state may thereafter be made on such corporation by service thereof on the secretary of state; and
(5) A post office address to which the secretary of state may mail a copy of any process against the corporation that may be served on him.
The original application for withdrawal shall be made on forms prescribed and furnished by the secretary of state and shall be executed by the chairman of the board, by the corporation’s president or by another of the corporation’s officers, or, if the corporation is in the hands of a receiver, trustee or by other court-appointed fiduciary, by that fiduciary.
Source: SL 1965, ch 24, § 78; SL 1989, ch 393, § 43; SL 2012, ch 222, § 10.