A corporation shall not have or issue shares of stock. No dividend shall be paid and no part of the income or profit of a corporation shall be distributed to its members, directors, or officers.
S.D. Codified Laws § 47-24-3
Shares of stock prohibited--Dividends and profits prohibited
Source: SL 1965, ch 24, § 28.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.