The books and records of account and minutes of a corporation organized under this chapter shall be exhibited to its stockholders at every stockholders’ meeting, if a majority of those present require it. Any person or group of persons who are the holders of record of at least ten percent of all the outstanding shares of such corporation, upon written demand stating the purpose thereof, have the right to examine, in person, or by agent or attorney, at any reasonable time or times, for any proper corporate purpose, its books and records of account, minutes and record of shareholders and to make extracts therefrom.

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Terms Used In South Dakota Codified Laws 49-33-18

  • 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.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • 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: SDC 1939, § 52.1504; SL 1986, ch 396, § 7.