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2012 South Dakota Codified Laws
Title 47 CORPORATIONS
Chapter 24. Nonprofit Corporations--Records, Fiscal Affairs And Reports
§47-24-3 Shares of stock prohibited--Dividends and profits prohibited.


SD Codified L § 47-24-3 (through 2012) What's This?


47-24-3. Shares of stock prohibited--Dividends and profits prohibited. A corporation shall not have or issue shares of stock. No dividend shall be paid and no part of the income or profit of a corporation shall be distributed to its members, directors, or officers.

Source: SL 1965, ch 24, § 28.

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