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2019 South Dakota Codified Laws
Title 47 - Corporations
Chapter 16 - Cooperatives--Membership, Stock And Distributions
§ 47-16-59 Discretionary payment to claimant after forfeiture.
Universal Citation: SD Codified L § 47-16-59 (2019)
47-16-59. Discretionary payment to claimant after forfeiture. Notwithstanding the forfeiture of any money or property as provided in §§ 47-16-54 to 47-16-58, inclusive, the board of directors, in its discretion, at any time after such forfeiture, may authorize the payment of any such money, or delivery of any such property, to the person or persons who would have been entitled to receive the same in the absence of such forfeiture.
Source: SDC 1939, § 11.1132 (5) as enacted by SL 1965, ch 23, § 1.
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