When stock is acquired, recalled, exchanged, or redeemed by the cooperative, such stock is restored to the status of authorized but unissued stock.
S.D. Codified Laws § 47-16-25
Reacquisition of stock
Source: SDC 1939, § 11.1118 (4) as enacted by SL 1965, ch 23, § 1.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.