Any cooperative may convert itself into a business corporation by adopting an amendment to its articles by which it elects to become subject to chapter 47-1A, together with changes in its articles required by the chapter and other desirable changes permitted by the chapter. Such amendment shall be adopted, filed, and recorded in the manner provided by the law then applicable to the cooperative. The conversion is effective upon the issuance of the certificate of amendment by the secretary of state.
S.D. Codified Laws § 47-1A-957
Cooperative converted to business corporation
Known as the South Dakota Business Corporation Act
The act spans §§ 47-1A-1001–47-1A-957 (383 sections).
Source: SL 2007, ch 258, § 1.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.