47-17-18. Compensation of officers.
Unless the bylaws of a cooperative provide otherwise, for prior or future services of any officer or employee, the board of directors may provide reasonable compensation, pension, bonuses, or other benefits to such officer or employee, and pension or other benefits to a member of his family or his beneficiaries. No officer or employee who is a director may take part in the vote on his salary for services rendered the cooperative.
Source: SDC 1939, §11.1128 (2) as enacted by SL 1965, ch 23, §1.
Structure South Dakota Codified Laws
Chapter 17 - Cooperatives--Directors, Officers And Employees
Section 47-17-1 - Board of directors as manager of cooperative--Qualifications of directors.
Section 47-17-2 - Compensation of directors.
Section 47-17-3 - Number of directors.
Section 47-17-5 - Removal of directors.
Section 47-17-6 - Vacancies on board of directors.
Section 47-17-7 - Liability of directors for improper distribution of assets.
Section 47-17-8 - Board meetings.
Section 47-17-9 - Quorum at meeting.
Section 47-17-10 - Waiver of notice of meeting.
Section 47-17-11 - Specification of purpose of meeting.
Section 47-17-12 - Directors' executive committee--Powers of committee.
Section 47-17-13 - Action without meeting of directors--Written consent.
Section 47-17-14 - Principal officers of cooperative--Election by board of directors.
Section 47-17-15 - Other officers.
Section 47-17-16 - Authority of officers.
Section 47-17-17 - Removal of officers.
Section 47-17-18 - Compensation of officers.