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2018 South Dakota Codified Laws
Title 47 - CORPORATIONS
Chapter 16 - Cooperatives--Membership, Stock And Distributions
§ 47-16-46 Distributions to patrons.
Universal Citation: SD Codified L § 47-16-46 (2018)
47-16-46. Distributions to patrons. Unless the articles or bylaws of a cooperative otherwise expressly provide, none of the remainder of the net proceeds after distributions and payments pursuant to §§ 47-16-44 and 47-16-45 shall constitute income of the cooperative but all thereof shall be distributed and paid to patrons, whether members or not, as provided by §§ 47-16-47 to 47-16-49, inclusive.
Source: SDC 1939, § 11.1131 (3) as enacted by SL 1965, ch 23, § 1.
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