Unless the corporation's articles expressly provide, before the control share acquisition, that §§ 47-33-8 to 47-33-16, inclusive, do not apply to control share acquisitions of shares of the corporation, the shares of a domestic public corporation acquired by an acquiring person in a control share acquisition that exceed the threshold of voting power of any of the ranges specified in subdivision 47-33-9(4) shall have only the voting rights as shall be accorded to them pursuant to § 47-33-12.
S.D. Codified Laws § 47-33-8
Control share acquisition--Voting rights
Known as the South Dakota Domestic Public Corporation Takeover Act
The act spans §§ 47–47 (19 sections).
Source: SL 1990, ch 369, § 201.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.