If the articles of incorporation authorize dividing the shares into classes, the articles may also authorize the election of all or a specified number of directors by the holders of one or more authorized classes of shares. A class of shares entitled to elect one or more directors is a separate voting group for purposes of the election of directors.
S.D. Codified Laws § 47-1A-804
Election of directors by certain classes of shareholders
Known as the South Dakota Business Corporation Act
The act spans §§ 47–47 (383 sections).
Source: SL 2005, ch 239, § 139.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.