The provisions of §§ 47-1A-901 to 47-1A-956, inclusive, may not be used to effect a transaction that converts an insurance company organized on the mutual principle to one organized on a stock-share basis.
S.D. Codified Laws § 47-1A-901
Excluded transactions
Known as the South Dakota Business Corporation Act
The act spans §§ 47–47 (383 sections).
Source: SL 2005, ch 239, § 194.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.