The liquidation of the assets and affairs of a corporation may be discontinued at any time during the liquidation proceedings when it is established that cause for liquidation no longer exists. In such event the court shall dismiss the proceedings and direct the receiver to redeliver to the corporation all its remaining property and assets.
S.D. Codified Laws § 47-26-35
Discontinuance of liquidation proceedings--Redelivery of assets to corporation
Applied in 1 court decision — leading case Wipf v. Hutterville Hutterian Brethren, Inc. (2013)
Most recently applied in Wipf v. Hutterville Hutterian Brethren, Inc. (July 2013)
Source: SL 1965, ch 24, § 60.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.