2018 South Dakota Codified Laws
Title 47 - CORPORATIONS
Chapter 10 - Business Development Credit Corporations
§ 47-10-15 First annual meeting--Conditions--Subsequent annual meetings.

47-10-15. First annual meeting--Conditions--Subsequent annual meetings. The first annual meeting of a business development credit corporation shall occur at a date to be fixed by the board of directors as soon as reasonably possible after a minimum of twenty-five percent of the capital stock of the corporation is paid into its treasury and a minimum of ten stockholder members of the corporation have qualified as provided in § 47-10-16; and such annual meeting and subsequent annual meetings shall be called and the directors shall be elected in the manner provided in the bylaws.

Source: SL 1957, ch 314, § 4; SDC Supp 1960, § 55.6004.

Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.