37-4-4. Exchange rules controlling distribution of member profits deemed unreasonable.
Any rule, regulation, or bylaw of a public market subject to this chapter which shall be designated or construed as controlling, limiting, or modifying the articles of incorporation, constitution, or bylaws of any association, company, or corporation in the distribution of its profits to its stockholders and members shall be deemed to be unreasonable.
Source: SDC 1939, §54.0802.
Structure South Dakota Codified Laws
Chapter 04 - Public Commodity Exchanges
Section 37-4-1 - Exchanges subject to chapter--Small-volume exchanges exempt.
Section 37-4-2 - Open membership required of exchanges--Cooperatives included.
Section 37-4-3 - Members to comply with rules, regulations, and bylaws--Fees and assessments.
Section 37-4-4 - Exchange rules controlling distribution of member profits deemed unreasonable.
Section 37-4-5 - Denial of membership by exchange as misdemeanor--Refusal to deal with member.