South Dakota Codified Laws 49-33-23. Issuance of preferred stock
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Notwithstanding the provisions of §§ 47-1A-601 to 47-1A-640.5, inclusive, a corporation, now or hereafter formed under the provisions of this chapter may provide in its articles of incorporation, or in any amendment thereof, for the issuance of preferred stock in series and authorize the board of directors (within the limits, if any, prescribed in such articles of incorporation or amendment) to fix certain or all of the characteristics and rights thereof.
Terms Used In South Dakota Codified Laws 49-33-23
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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: SDC 1939, § 52.1518 as enacted by SL 1949, ch 211; SL 2005, ch 202, § 10.