There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 47-1A-627.2 — Terms of restriction on transfer or registration of transfer of shares.
47-1A-627.2. Terms of restriction on transfer or registration of transfer of shares. A restriction on the transfer or registration of transfer of shares may:
(1) Obligate the shareholder first to
offer the corporation or other persons, separately, consecutively,
or simultaneously, an opportunity to acquire the restricted
shares;
(2) Obligate the corporation or other
persons, separately, consecutively, or simultaneously, to acquire
the restricted shares;
(3) Require the corporation, the holders
of any class of its shares, or another person to approve the
transfer of the restricted shares, if the requirement is not
manifestly unreasonable;
(4) Prohibit the transfer of the
restricted shares to designated persons or classes of persons, if
the prohibition is not manifestly unreasonable.
Source: SL 2005, ch 239, § 76.
Source: SL 2005, ch 239, § 76.
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