South Dakota Codified Laws
Chapter 21 - Rural Electric Cooperatives
Section 47-21-53 - Annual members' meeting.

South Dakota Codified Laws

Title 47 - Corporations

Chapter 21 - Rural Electric Cooperatives

Section 47-21-1 - Definitions.

Section 47-21-2 - Purpose and authority.

Section 47-21-3 - Name of cooperative--Exceptions.

Section 47-21-4 - Exclusive use of particular words.

Section 47-21-5 - Requirement that name be distinct.

Section 47-21-6 - Incorporators--Requisites and qualifications.

Section 47-21-7 - Articles of incorporation--Unnecessary recitals--Signing of articles.

Section 47-21-8 - Amendment of articles--Procedure--Two-thirds vote required.

Section 47-21-9 - Required recitals in amendment--Affidavit of compliance.

Section 47-21-10 - Board of directors--Bylaws--Meetings by teleconference.

Section 47-21-11 - Compensation of directors.

Section 47-21-12 - First directors--Term of office.

Section 47-21-13 - Election of directors--Maximum term of office.

Section 47-21-14 - Quorum of directors.

Section 47-21-15 - Husband and wife as directors.

Section 47-21-16 - Powers of board of directors.

Section 47-21-17 - Directors not disqualified from acknowledging instruments.

Section 47-21-18 - Adoption of first bylaws by directors--Subsequent bylaws adopted by members.

Section 47-21-19 - Provisions of bylaws.

Section 47-21-20 - Bylaw provision dividing area served into districts--Election of directors by districts--District meetings--Proxy voting prohibited.

Section 47-21-21 - Officers--Election and qualifications--Removal of officers.

Section 47-21-21.2 - Indemnification of directors, officers, agents, and employees against liability under certain circumstances.

Section 47-21-21.3 - Circumstances under which directors, officers, agents, and employees may not be indemnified.

Section 47-21-21.4 - Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding.

Section 47-21-22 - Conversion of corporation into cooperative.

Section 47-21-23 - Submission of conversion proposition to stockholders--Notice of meeting.

Section 47-21-24 - Two-thirds vote required for approval--Articles of conversion--Contents of articles--Affidavit of compliance.

Section 47-21-25 - Consolidating cooperatives.

Section 47-21-26 - Submission of consolidation proposition to members--Notice of meeting.

Section 47-21-27 - Majority vote required for approval--Articles of consolidation--Contents of articles--Affidavit of compliance.

Section 47-21-28 - Merging cooperatives.

Section 47-21-29 - Submission of merger proposition to members--Notice of meeting.

Section 47-21-30 - Majority vote required for approval--Articles of merger--Contents of articles--Affidavit of compliance.

Section 47-21-31 - Articles of consolidation as governing consolidated cooperative--Articles of surviving cooperative as governing merged cooperative.

Section 47-21-32 - Transfer of rights and obligations to surviving cooperative.

Section 47-21-33 - Liabilities after consolidation or merger--Preexisting claims--Substitution of parties.

Section 47-21-34 - Rights of creditors and lienors unaffected by consolidation or merger.

Section 47-21-35 - Dissolution before commencement of business--Articles of dissolution--Majority approval required--Contents of articles.

Section 47-21-36 - Dissolution after commencement of business.

Section 47-21-37 - Submission of dissolution proposition to members--Majority vote required.

Section 47-21-38 - Certificate of election to dissolve--Contents of certificate--Submission to secretary of state.

Section 47-21-39 - Cessation of business--Continuance of corporate existence--Notice to creditors--Publication.

Section 47-21-40 - Liquidation of affairs of cooperative--Distribution of assets--Rights of patrons--Rights of members--Distribution of remains.

Section 47-21-41 - Articles of dissolution--Contents of articles.

Section 47-21-42 - Delivery of articles to secretary of state--Fees--Effective date of action--Certificates of election to dissolve.

Section 47-21-43 - Fee schedule of secretary of state.

Section 47-21-44 - Encumbering cooperative property in favor of governmental agency permitted.

Section 47-21-46 - Place of recordation of encumbrance.

Section 47-21-46.1 - Filing and recording of trust deed or mortgage in Office of Secretary of State--Effect.

Section 47-21-46.2 - Filing required under chapter 57A-9 to be maintained in Office of Secretary of State--Contents of financing statement--Termination of effectiveness.

Section 47-21-46.3 - Filing of mortgage or trust deed covering less than fee simple interest--Effect--Termination--Sufficiency of description.

Section 47-21-46.4 - Applicability of other laws--Single filing--Index.

Section 47-21-46.5 - Assignment or discharge of trust deed or mortgage.

Section 47-21-46.6 - Filing fee.

Section 47-21-47 - After-acquired property as subject to encumbrance--Recordation as notice.

Section 47-21-48 - Encumbrance against personal property--Continuance of lien without refiling.

Section 47-21-49 - Members of cooperatives--Qualifications.

Section 47-21-50 - Use of electric energy required--Failure to make energy available.

Section 47-21-51 - Husband and wife as members--Membership not transferable--Additional qualifications of members.

Section 47-21-52 - Liability of members for acts of cooperative.

Section 47-21-53 - Annual members' meeting.

Section 47-21-54 - Special meetings for members--Procedure for calling.

Section 47-21-55 - Notice of meeting--Contents of notice--Method of giving notice.

Section 47-21-56 - Quorum for members' meetings--Quorum for district meeting--Adjournment for failure of quorum.

Section 47-21-57 - Voting by members--Spouse voting for member--Mail voting.

Section 47-21-58 - Waiver of notice--Attendance as waiver--Exceptions.

Section 47-21-59 - Powers of cooperative--Capacity to sue and be sued.

Section 47-21-60 - Powers of cooperative--Perpetual existence.

Section 47-21-61 - Powers of cooperative--Corporate seal.

Section 47-21-62 - Powers of cooperative--Generation and distribution of electric energy.

Section 47-21-63 - Powers of cooperative--Dealing in property and equipment.

Section 47-21-64 - Powers of cooperative--Franchises, licenses and easements.

Section 47-21-65 - Powers of cooperative--Borrowing--Security for borrowing.

Section 47-21-66 - Powers of cooperative--Construction and maintenance of facilities on public lands.

Section 47-21-67 - Powers of cooperative--Eminent domain.

Section 47-21-68 - Powers of cooperative--Joining other cooperatives.

Section 47-21-69 - Powers of cooperative--Extraterritorial powers.

Section 47-21-70 - Powers of cooperative--Bylaws.

Section 47-21-71 - Powers of cooperative--Other powers.

Section 47-21-72 - Requirement that cooperative be nonprofit--Disposition of revenues.

Section 47-21-72.1 - Directors not liable for distribution in good faith reliance on financial statements or accountants' reports.

Section 47-21-73 - Municipal corporation or county grant to use public streets.

Section 47-21-74 - Foreign cooperatives--Conditions to local operation--Statement to secretary of state--Contents of statement.

Section 47-21-75 - Construction to comply with National Electrical Safety Code--Compliance establishes due care in negligence claim.

Section 47-21-76 - Change of location of principal office--Certificate to secretary of state.

Section 47-21-77 - Securities regulation laws inapplicable.

Section 47-21-78 - Construction of chapter.

Section 47-21-79 - Limitation of actions.

Section 47-21-80 - Severability and saving clause.

Section 47-21-81 - Citation of chapter.

Section 47-21-82 - Cooperatives able to use property and funds to promote economic development and may lend money--Restrictions on loans.

Section 47-21-83 - Forfeiture of unclaimed credits.

Section 47-21-84 - Application of South Dakota's Public Communications Network Infrastructure.