State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-01a > Statute-47-1a-604-3

47-1A-604.3. Issuance of script--Authorization by board of directors--Conditions. The board of directors may authorize the issuance of scrip subject to any condition considered desirable, including:
(1) That the scrip will become void if not exchanged for full shares before a specified date; and
(2) That the shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders.

Source: SL 2005, ch 239, § 63.

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-01a > Statute-47-1a-604-3

47-1A-604.3. Issuance of script--Authorization by board of directors--Conditions. The board of directors may authorize the issuance of scrip subject to any condition considered desirable, including:
(1) That the scrip will become void if not exchanged for full shares before a specified date; and
(2) That the shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders.

Source: SL 2005, ch 239, § 63.