Prior to the expiration of the period for which it was incorporated or organized a trust company may, with the approval of at least a majority of the capital stock or ownership units of such trust company, amend its articles to extend its existence for an additional period, which may be perpetual.
S.D. Codified Laws § 51A-6A-8
Amendment of articles--Extension of existence
Source: SL 1995, ch 268, § 5A; SL 2011, ch 212, § 39.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.