Section 47-1A-1434.6 - Time to ordered purchase--Intent of corporation to adopt articles ofdissolution--Dissolution--Fees and expenses--Claims. - South-dakota Statutes

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47-1A-1434.6. Time to ordered purchase--Intent of corporation to adopt articles of dissolution--Dissolution--Fees and expenses--Claims. The purchase ordered pursuant to § 47-1A-1434.4 shall be made within ten days after the date the order becomes final unless before that time the corporation files with the court a notice of its intention to adopt articles of dissolution pursuant to §§ 47-1A-1402 to 47-1A-1403.1, inclusive, which articles must then be adopted and filed within fifty days thereafter. Upon filing of such articles of dissolution, the corporation shall be dissolved in accordance with the provisions of §§ 47-1A-1405 to 47-1A-1407.2, inclusive, and the order entered pursuant to § 47-1A-1434.4 is no longer of any force or effect, except that the court may award the petitioning shareholder reasonable fees and expenses in accordance with the provisions of the last sentence of § 47-1A-1434.4 and the petitioner may continue to pursue any claims previously asserted on behalf of the corporation.

Source: SL 2005, ch 239, § 344.

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-01a > Statute-47-1a-1434-6

47-1A-1434.6. Time to ordered purchase--Intent of corporation to adopt articles of dissolution--Dissolution--Fees and expenses--Claims. The purchase ordered pursuant to § 47-1A-1434.4 shall be made within ten days after the date the order becomes final unless before that time the corporation files with the court a notice of its intention to adopt articles of dissolution pursuant to §§ 47-1A-1402 to 47-1A-1403.1, inclusive, which articles must then be adopted and filed within fifty days thereafter. Upon filing of such articles of dissolution, the corporation shall be dissolved in accordance with the provisions of §§ 47-1A-1405 to 47-1A-1407.2, inclusive, and the order entered pursuant to § 47-1A-1434.4 is no longer of any force or effect, except that the court may award the petitioning shareholder reasonable fees and expenses in accordance with the provisions of the last sentence of § 47-1A-1434.4 and the petitioner may continue to pursue any claims previously asserted on behalf of the corporation.

Source: SL 2005, ch 239, § 344.

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State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-01a > Statute-47-1a-1434-6

47-1A-1434.6. Time to ordered purchase--Intent of corporation to adopt articles of dissolution--Dissolution--Fees and expenses--Claims. The purchase ordered pursuant to § 47-1A-1434.4 shall be made within ten days after the date the order becomes final unless before that time the corporation files with the court a notice of its intention to adopt articles of dissolution pursuant to §§ 47-1A-1402 to 47-1A-1403.1, inclusive, which articles must then be adopted and filed within fifty days thereafter. Upon filing of such articles of dissolution, the corporation shall be dissolved in accordance with the provisions of §§ 47-1A-1405 to 47-1A-1407.2, inclusive, and the order entered pursuant to § 47-1A-1434.4 is no longer of any force or effect, except that the court may award the petitioning shareholder reasonable fees and expenses in accordance with the provisions of the last sentence of § 47-1A-1434.4 and the petitioner may continue to pursue any claims previously asserted on behalf of the corporation.

Source: SL 2005, ch 239, § 344.