47-13B-7. Qualifications of directors and officers--Restrictions on powers of lay directors and officers.
The principal executive officer shall be a shareholder and a director and, to the extent possible, all other directors and principal officers shall be shareholders, and lay directors and officers shall not exercise any authority whatsoever over professional matters.
Source: SL 1971, ch 260, ยง1 (6).
Structure South Dakota Codified Laws
Chapter 13B - Professional Corporations For The Practice Of Public Accounting
Section 47-13B-1 - Formation of corporations or limited liability companies authorized.
Section 47-13B-1.1 - Definition of terms.
Section 47-13B-2 - Purpose of corporation.
Section 47-13B-3 - Powers exercised only for authorized purpose--Incompatible services prohibited.
Section 47-13B-4 - Corporate name.
Section 47-13B-5.1 - Revocable trust as shareholder--Conditions.
Section 47-13B-6 - Disposition of shares held by person no longer qualified.
Section 47-13B-12.2 - Amendment of articles of incorporation to be consistent with law.
Section 47-13B-14 - Restrictions on corporate practice of accounting.
Section 47-13B-15 - Pension and insurance plans for employees.