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2018 South Dakota Codified Laws
Title 47 - CORPORATIONS
Chapter 26 - Nonprofit Corporations--Dissolution And Liquidation
§ 47-26-16 Involuntary dissolution by court decree--Action by attorney general--Grounds of action.
Universal Citation: SD Codified L § 47-26-16 (2018)
47-26-16. Involuntary dissolution by court decree--Action by attorney general--Grounds of action. The provisions of § 47-24-13.1 notwithstanding, a corporation may be dissolved involuntarily by a decree of the circuit court in an action filed by the attorney general if it is established that:
(1) The corporation procured its articles of incorporation through fraud; or
(2) The corporation has continued to exceed or abuse the authority conferred upon it by law.
Source: SL 1965, ch 24, § 53; SL 1967, ch 14, § 1; SL 1989, ch 393, § 31.
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