Section 47-18-23 - Title to property omitted from final distribution. - South-dakota Statutes

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-18 > Statute-47-18-23

47-18-23. Title to property omitted from final distribution. Upon the filing and recording of the certificate or decree of dissolution of a cooperative, title to any property omitted from the final distribution vests in the surviving directors or committee members who signed the certificate, as trustees. They have all the powers of the cooperative with respect to such property and shall distribute the property or its proceeds to the persons beneficially entitled thereto.

Source: SDC 1939, § 11.1146 (1) as enacted by SL 1965, ch 23, § 1.

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-18 > Statute-47-18-23

47-18-23. Title to property omitted from final distribution. Upon the filing and recording of the certificate or decree of dissolution of a cooperative, title to any property omitted from the final distribution vests in the surviving directors or committee members who signed the certificate, as trustees. They have all the powers of the cooperative with respect to such property and shall distribute the property or its proceeds to the persons beneficially entitled thereto.

Source: SDC 1939, § 11.1146 (1) as enacted by SL 1965, ch 23, § 1.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-18 > Statute-47-18-23

47-18-23. Title to property omitted from final distribution. Upon the filing and recording of the certificate or decree of dissolution of a cooperative, title to any property omitted from the final distribution vests in the surviving directors or committee members who signed the certificate, as trustees. They have all the powers of the cooperative with respect to such property and shall distribute the property or its proceeds to the persons beneficially entitled thereto.

Source: SDC 1939, § 11.1146 (1) as enacted by SL 1965, ch 23, § 1.