There is a newer version of the South Dakota Codified Laws
2012 South Dakota Codified Laws
Title 47 CORPORATIONS
Chapter 01A. South Dakota Business Corporation Act
§47-1A-602 Classification or reclassification of unissued shares determined by board of directors.
SD Codified L § 47-1A-602 (through 2012) What's This?
47-1A-602. Classification or reclassification of unissued shares determined by board of directors. If the articles of incorporation so provide, the board of directors, without shareholder approval, may:
(1) Classify any unissued shares into one or more classes or into one or more series within a class;
(2) Reclassify any unissued shares of any class into one or more classes or into one or more series within one or more classes; or
(3) Reclassify any unissued shares of any series of any class into one or more classes or into one or more series within a class.
Source: SL 2005, ch 239, § 56.
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