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2012 South Dakota Codified Laws
Title 47 CORPORATIONS
Chapter 26. Nonprofit Corporations--Dissolution And Liquidation
§47-26-35 Discontinuance of liquidation proceedings--Redelivery of assets to corporation.


SD Codified L § 47-26-35 (through 2012) What's This?


47-26-35. Discontinuance of liquidation proceedings--Redelivery of assets to corporation. The liquidation of the assets and affairs of a corporation may be discontinued at any time during the liquidation proceedings when it is established that cause for liquidation no longer exists. In such event the court shall dismiss the proceedings and direct the receiver to redeliver to the corporation all its remaining property and assets.

Source: SL 1965, ch 24, § 60.

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