Except as provided in §§ 47-1A-732 to 47-1A-732.6, inclusive, each corporation must have a board of directors. All corporate powers shall be exercised by or under the authority of, and the business and affairs of the corporation managed by or under the direction of, its board of directors, subject to any limitation set forth in the articles of incorporation or in an agreement authorized under § 47-1A-732.
S.D. Codified Laws § 47-1A-801
Requirement for and duties of board of directors
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, § 136.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.