The principal executive officer shall be a shareholder and a director and, to the extent possible, all other directors and principal officers shall be shareholders, and lay directors and officers shall not exercise any authority whatsoever over professional matters.
S.D. Codified Laws § 47-13B-7
Qualifications of directors and officers--Restrictions on powers of lay directors and officers
Source: SL 1971, ch 260, § 1 (6).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.