40-25-3. Stock and membership provisions in articles of association.
The articles of a purebred livestock registry association shall also set forth whether or not interests in the corporation shall be evidenced by shares of stock or by certificates of membership or by both. The articles may provide for the issuance of stock in shares of no par value and in such case shall state the number of shares of such stock issued by the association. The articles may also provide that in lieu of stock, certificates of membership of a value to be fixed by the bylaws may be issued.
Source: SDC 1939, ยง40.1602.
Structure South Dakota Codified Laws
Title 40 - Animals and Livestock
Chapter 25 - Livestock Registry Associations
Section 40-25-1 - Number of organizers required to form association.
Section 40-25-2 - Written articles of association required--Contents.
Section 40-25-3 - Stock and membership provisions in articles of association.
Section 40-25-4 - Amendment of articles by association--Procedure--Filing of amendment.
Section 40-25-5 - Term of existence of association--Extension of term.
Section 40-25-6 - Articles filed to extend term of association--Contents.
Section 40-25-7 - Adoption and amendment of bylaws--Contents.
Section 40-25-8 - Voting by stockholders or members--Proxy voting.
Section 40-25-9 - Directors to manage affairs of association--Terms of office.
Section 40-25-10 - Officers of association.
Section 40-25-11 - Salaries paid by association--Ownership of property.
Section 40-25-12 - Operation as nonprofit corporation--Purposes.