The directors of a cooperative named in any articles of incorporation, consolidation, merger, or conversion, shall hold office for their terms and until their successors are elected and qualify.
S.D. Codified Laws § 47-21-12
First directors--Term of office
Known as the Electric Cooperative Law
The act spans §§ 47–47 (92 sections).
Source: SL 1947, ch 33, § 12; SDC Supp 1960, § 11.2212 (2).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.