State Codes and Statutes

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

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

Source: SL 1996, ch 228, § 7.

State Codes and Statutes

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

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

Source: SL 1996, ch 228, § 7.