The proposition to dissolve a cooperative which has commenced business shall be submitted to the members of the cooperative at any annual or special meeting, the notice of which shall set forth such proposition. The members at any such meeting shall approve, by the affirmative vote of not less than a majority of all members of the cooperative, the proposition that the cooperative be dissolved.
S.D. Codified Laws § 47-21-37
Submission of dissolution proposition to members--Majority vote required
Known as the Electric Cooperative Law
The act spans §§ 47–47 (92 sections).
Source: SL 1947, ch 33, § 21; SDC Supp 1960, § 11.2221 (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.