Except as authorized by § 47-23-22, the affairs of a corporation shall be managed by a board of directors. Directors need not be members of the corporation unless the articles of incorporation or the bylaws so require. The articles of incorporation or the bylaws may prescribe other qualifications for directors.
S.D. Codified Laws § 47-23-13
Board of directors--Qualifications of directors
Applied in 2 court decisions — leading case Drs., Residents, and Orth. Surg. Spec. v. Avera St. Luke (2001)
Most recently applied in Mahan v. Avera St. Luke's (January 2001)
Source: SL 1965, ch 24, § 19; SL 1989, ch 394, § 1; SL 2016, ch 221, § 10.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.