There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 47-1A-702 — Special meeting.
47-1A-702. Special meeting. A corporation shall hold a special meeting of shareholders:
(1) On call of its board of directors or
any persons authorized to do so by the articles of incorporation or
bylaws; or
(2) If the holders of at least ten percent
of all the votes entitled to be cast on an issue proposed to be
considered at the proposed special meeting sign, date, and deliver
to the corporation one or more written demands for the meeting
describing the purpose or purposes for which it is to be held.
However, the articles of incorporation may fix a lower percentage
or a higher percentage not exceeding twenty-five percent of all the
votes entitled to be cast on any issue proposed to be considered.
Unless otherwise provided in the articles of incorporation, a
written demand for a special meeting may be revoked by a writing to
that effect received by the corporation prior to the receipt by the
corporation of demands sufficient in number to require the holding
of a special meeting.
If not
otherwise fixed under § 47-1A-703 or 47-1A-707, the
record date for determining shareholders entitled to demand a
special meeting is the date the first shareholder signs the demand.
Special shareholders' meetings may be held in or out of this state
at the place stated in or fixed in accordance with the bylaws. If
no place is stated or fixed in accordance with the bylaws, special
meetings shall be held at the corporation's principal office. Only
business within the purposes described in the meeting notice
required by § 47-1A-705 may be conducted at a special
shareholders' meeting.
Source: SL 2005, ch 239, § 87.
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