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2020 South Dakota Codified Laws
Title 47 - Corporations
Chapter 01A - South Dakota Business Corporation Act
Section 47-1A-744.3 - Proceeding commenced after rejection of shareholder demand--Complaint requirements.
Universal Citation:
SD Codified L § 47-1A-744.3 (2020)
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47-1A-744.3. Proceeding commenced after rejection of shareholder demand--Complaint requirements.
If a derivative proceeding is commenced after a determination has been made rejecting a demand by a shareholder, the complaint shall allege with particularity facts establishing either (1) that a majority of the board of directors did not consist of independent directors at the time the determination was made, or (2) that the requirements of §47-1A-744 have not been met.
Source: SL 2005, ch 239, §130.
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