Any corporation may convert itself into a cooperative by adopting an amendment to its articles by which it elects to become subject to chapters 47-15 to 47-20, inclusive, together with changes in its articles required by said chapters and other desirable changes permitted by said chapters. Such amendment shall be adopted, filed, and recorded in the manner provided by the law then applicable to the corporation and the conversion shall be effective upon issuance of the certificate of amendment by the secretary of state.
S.D. Codified Laws § 47-15-14
Amendment converting corporation to cooperative
Known as the South Dakota Cooperative Association Act
The act spans §§ 47–47 (47 sections).
Applied in 1 court decision — leading case South Dakota Farm Bureau, Inc. v. Hazeltine (2002)
Most recently applied in South Dakota Farm Bureau, Inc. v. Hazeltine (May 2002)
Source: SDC 1939, § 11.1142 as enacted by SL 1965, ch 23, § 1; SL 1976, ch 287, § 2.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.