If the parties are unable to reach an agreement as provided for in § 47-1A-1434.2, the court, upon application of any party, shall stay the proceedings under subdivision 47-1A-1430(2) and determine the fair value of the petitioner's shares as of the day before the date on which the petition under subdivision 47-1A-1430(2) was filed or as of such other date as the court deems appropriate under the circumstances.
S.D. Codified Laws § 47-1A-1434.3
Court determination of fair value of shares when parties unable to reach agreement
Known as the South Dakota Business Corporation Act
The act spans §§ 47-1A-1001 to 47-1A-957 (383 sections).
Applied in 1 court decision — leading case Link v. L.S.I., Inc. (2010)
Most recently applied in Link v. L.S.I., Inc. (December 2010)
Source: SL 2005, ch 239, § 341.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.