State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-11a > Statute-47-11a-7

47-11A-7. Qualifications of president, directors, and officers. The president of a corporation formed under § 47-11A-1 shall be a shareholder and a director, and to the extent possible all other directors and officers shall be persons having the qualifications prescribed in § 47-11A-5. Lay directors and officers shall not exercise any authority whatsoever over professional matters.

Source: SL 1970, ch 258, § 1 (6).

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-11a > Statute-47-11a-7

47-11A-7. Qualifications of president, directors, and officers. The president of a corporation formed under § 47-11A-1 shall be a shareholder and a director, and to the extent possible all other directors and officers shall be persons having the qualifications prescribed in § 47-11A-5. Lay directors and officers shall not exercise any authority whatsoever over professional matters.

Source: SL 1970, ch 258, § 1 (6).