No person shall be a director of a corporation organized under this chapter unless he is a stockholder thereof owning absolutely in his own right, or as trustee or personal representative, at least ten shares of the capital stock of such corporation and must be duly qualified to vote such stock at the election at which he shall be chosen.
S.D. Codified Laws § 49-33-15
Director as stockholder--Minimum stock ownership
Source: SDC 1939, § 52.1504.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.