After authorization by a vote of members pursuant to § 47-25-26, the board of directors, nevertheless, in its discretion, may abandon a sale, lease, exchange, mortgage, pledge, or other disposition of assets described in § 47-25-24, subject to the rights of third parties under any contracts relating thereto, without further action or approval by members.
S.D. Codified Laws § 47-25-27
Abandonment of transfer plan after vote of members--Rights of third parties
Source: SL 1965, ch 24, § 46 (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.