Fractional shares--Scrip
Known as the South Dakota Business Corporation Act
The act spans §§ 47–47 (383 sections).
Source: SL 2005, ch 239, § 60.
A corporation may:
(1) Issue fractions of a share or pay in money the value of fractions of a share;
(2) Arrange for disposition of fractional shares by the shareholders;
(3) Issue scrip in registered or bearer form entitling the holder to receive a full share upon surrendering enough scrip to equal a full share.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.