§ 47-21-1 Definitions
§ 47-21-2 Purpose and authority
§ 47-21-3 Name of cooperative–Exceptions
§ 47-21-4 Exclusive use of particular words
§ 47-21-5 Requirement that name be distinct
§ 47-21-6 Incorporators–Requisites and qualifications
§ 47-21-7 Articles of incorporation–Unnecessary recitals–Signing of articles
§ 47-21-8 Amendment of articles–Procedure–Two-thirds vote required
§ 47-21-9 Required recitals in amendment–Affidavit of compliance
§ 47-21-10 Board of directors–Bylaws–Meetings by teleconference
§ 47-21-11 Compensation of directors
§ 47-21-12 First directors–Term of office
§ 47-21-13 Election of directors–Maximum term of office
§ 47-21-14 Quorum of directors
§ 47-21-15 Husband and wife as directors
§ 47-21-16 Powers of board of directors
§ 47-21-17 Directors not disqualified from acknowledging instruments
§ 47-21-18 Adoption of first bylaws by directors–Subsequent bylaws adopted by members
§ 47-21-19 Provisions of bylaws
§ 47-21-20 Bylaw provision dividing area served into districts–Election of directors by districts–District meetings–Proxy voting prohibited
§ 47-21-21 Officers–Election and qualifications–Removal of officers
§ 47-21-21.2 Indemnification of directors, officers, agents, and employees against liability undercertain circumstances
§ 47-21-21.3 Circumstances under which directors, officers, agents, and employees may not beindemnified
§ 47-21-21.4 Indemnification of successful director, officer, agent, or employee for expensesincurred in proceeding
§ 47-21-22 Conversion of corporation into cooperative
§ 47-21-23 Submission of conversion proposition to stockholders–Notice of meeting
§ 47-21-24 Two-thirds vote required for approval–Articles of conversion–Contents of articles–Affidavit of compliance
§ 47-21-25 Consolidating cooperatives
§ 47-21-26 Submission of consolidation proposition to members–Notice of meeting
§ 47-21-27 Majority vote required for approval–Articles of consolidation–Contents of articles–Affidavit of compliance
§ 47-21-28 Merging cooperatives
§ 47-21-29 Submission of merger proposition to members–Notice of meeting
§ 47-21-30 Majority vote required for approval–Articles of merger–Contents of articles–Affidavit of compliance
§ 47-21-31 Articles of consolidation as governing consolidated cooperative–Articles ofsurviving cooperative as governing merged cooperative
§ 47-21-32 Transfer of rights and obligations to surviving cooperative
§ 47-21-33 Liabilities after consolidation or merger–Preexisting claims–Substitution of parties
§ 47-21-34 Rights of creditors and lienors unaffected by consolidation or merger
§ 47-21-35 Dissolution before commencement of business–Articles of dissolution–Majorityapproval required–Contents of articles
§ 47-21-36 Dissolution after commencement of business
§ 47-21-37 Submission of dissolution proposition to members–Majority vote required
§ 47-21-38 Certificate of election to dissolve–Contents of certificate–Submission to secretaryof state
§ 47-21-39 Cessation of business–Continuance of corporate existence–Notice to creditors–Publication
§ 47-21-40 Liquidation of affairs of cooperative–Distribution of assets–Rights of patrons–Rights of members–Distribution of remains
§ 47-21-41 Articles of dissolution–Contents of articles
§ 47-21-42 Delivery of articles to secretary of state–Fees–Effective date of action–Certificatesof election to dissolve
§ 47-21-43 Fee schedule of secretary of state
§ 47-21-44 Encumbering cooperative property in favor of governmental agency permitted
§ 47-21-45 Circumstances under which property may be transferred–Majority vote required–Transfer to security holders
§ 47-21-46 Place of recordation of encumbrance
§ 47-21-46.1 Filing and recording of trust deed or mortgage in Office of Secretary of State–Effect
§ 47-21-46.2 Filing required under chapter 57A-9 to be maintained in Office of Secretary of State–Contents of financing statement–Termination of effectiveness
§ 47-21-46.3 Filing of mortgage or trust deed covering less than fee simple interest–Effect–Termination–Sufficiency of description
§ 47-21-46.4 Applicability of other laws–Single filing–Index
§ 47-21-46.5 Assignment or discharge of trust deed or mortgage
§ 47-21-46.6 Filing fee
§ 47-21-47 After-acquired property as subject to encumbrance–Recordation as notice
§ 47-21-48 Encumbrance against personal property–Continuance of lien without refiling
§ 47-21-49 Members of cooperatives–Qualifications
§ 47-21-50 Use of electric energy required–Failure to make energy available
§ 47-21-51 Husband and wife as members–Membership not transferable–Additionalqualifications of members
§ 47-21-52 Liability of members for acts of cooperative
§ 47-21-53 Annual members’ meeting
§ 47-21-54 Special meetings for members–Procedure for calling
§ 47-21-55 Notice of meeting–Contents of notice–Method of giving notice
§ 47-21-56 Quorum for members’ meetings–Quorum for district meeting–Adjournment forfailure of quorum
§ 47-21-57 Voting by members–Spouse voting for member–Mail voting
§ 47-21-58 Waiver of notice–Attendance as waiver–Exceptions
§ 47-21-59 Powers of cooperative–Capacity to sue and be sued
§ 47-21-60 Powers of cooperative–Perpetual existence
§ 47-21-61 Powers of cooperative–Corporate seal
§ 47-21-62 Powers of cooperative–Generation and distribution of electric energy
§ 47-21-63 Powers of cooperative–Dealing in property and equipment
§ 47-21-64 Powers of cooperative–Franchises, licenses and easements
§ 47-21-65 Powers of cooperative–Borrowing–Security for borrowing
§ 47-21-66 Powers of cooperative–Construction and maintenance of facilities on public lands
§ 47-21-67 Powers of cooperative–Eminent domain
§ 47-21-68 Powers of cooperative–Joining other cooperatives
§ 47-21-69 Powers of cooperative–Extraterritorial powers
§ 47-21-70 Powers of cooperative–Bylaws
§ 47-21-71 Powers of cooperative–Other powers
§ 47-21-72 Requirement that cooperative be nonprofit–Disposition of revenues
§ 47-21-72.1 Directors not liable for distribution in good faith reliance on financial statements oraccountants’ reports
§ 47-21-73 Municipal corporation or county grant to use public streets
§ 47-21-74 Foreign cooperatives–Conditions to local operation–Statement to secretary of state–Contents of statement
§ 47-21-75 Construction to comply with National Electrical Safety Code–Complianceestablishes due care in negligence claim
§ 47-21-76 Change of location of principal office–Certificate to secretary of state
§ 47-21-77 Securities regulation laws inapplicable
§ 47-21-78 Construction of chapter
§ 47-21-79 Limitation of actions
§ 47-21-80 Severability and saving clause
§ 47-21-81 Citation of chapter
§ 47-21-82 Cooperatives able to use property and funds to promote economic development andmay lend money–Restrictions on loans
§ 47-21-83 Forfeiture of unclaimed credits
§ 47-21-84 Application of South Dakota’s Public Communications Network Infrastructure
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Terms Used In South Dakota Codified Laws > Title 47 > Chapter 21 - Rural Electric Cooperatives

  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Personal property: All property that is not real property.
  • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See South Dakota Codified Laws 2-14-2
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Seal: includes an impression of the seal upon the paper alone, as well as upon wax or a wafer affixed to the paper, and also the word "seal" written or printed on such paper. See South Dakota Codified Laws 2-14-2
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • 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