The holder of a fractional share is entitled to exercise the rights of a shareholder, including the right to vote, to receive dividends, and to participate in the assets of the corporation upon liquidation. The holder of scrip is not entitled to any of these rights unless the scrip so provides.
S.D. Codified Laws § 47-1A-604.2
Rights of holder of fractional share--Scrip
Known as the South Dakota Business Corporation Act
The act spans §§ 47-1A-1001 to 47-1A-957 (383 sections).
Source: SL 2005, ch 239, § 62.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.