Section 47-1A-863.3 - Court authority upon failure of shareholder vote to comply with § 47-1A-863. - South-dakota Statutes

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Statutes > South-dakota > Title-47 > Chapter-01a > Statute-47-1a-863-3

47-1A-863.3. Court authority upon failure of shareholder vote to comply with § 47-1A-863. If a shareholders' vote does not comply with § 47-1A-863 solely because of a failure of a director to comply with § 47-1A-863.2, and if the director establishes that the director's failure did not determine and was not intended by the director to influence the outcome of the vote, the court may, with or without further proceedings respecting subdivision 47-1A-861.1(3), take such action respecting the transaction and the director, and give such effect, if any, to the shareholders' vote, as it considers appropriate in the circumstances.

Source: SL 2005, ch 239, § 193.

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-01a > Statute-47-1a-863-3

47-1A-863.3. Court authority upon failure of shareholder vote to comply with § 47-1A-863. If a shareholders' vote does not comply with § 47-1A-863 solely because of a failure of a director to comply with § 47-1A-863.2, and if the director establishes that the director's failure did not determine and was not intended by the director to influence the outcome of the vote, the court may, with or without further proceedings respecting subdivision 47-1A-861.1(3), take such action respecting the transaction and the director, and give such effect, if any, to the shareholders' vote, as it considers appropriate in the circumstances.

Source: SL 2005, ch 239, § 193.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-01a > Statute-47-1a-863-3

47-1A-863.3. Court authority upon failure of shareholder vote to comply with § 47-1A-863. If a shareholders' vote does not comply with § 47-1A-863 solely because of a failure of a director to comply with § 47-1A-863.2, and if the director establishes that the director's failure did not determine and was not intended by the director to influence the outcome of the vote, the court may, with or without further proceedings respecting subdivision 47-1A-861.1(3), take such action respecting the transaction and the director, and give such effect, if any, to the shareholders' vote, as it considers appropriate in the circumstances.

Source: SL 2005, ch 239, § 193.