47-21-7. Articles of incorporation--Unnecessary recitals--Signing of articles.
Articles of incorporation of a cooperative shall recite that they are executed pursuant to this chapter and shall state:
(1)The name of the cooperative;
(2)The address of its principal office;
(3)The names and addresses of the incorporators; and
(4)The names and addresses of its directors;
and may contain any provisions not inconsistent with this chapter deemed necessary or advisable for the conduct of its business.
It shall not be necessary to recite in the articles of incorporation of a cooperative the purpose for which it is organized or any of its corporate powers.
Such articles shall be signed by each incorporator and acknowledged by at least two of the incorporators, or on their behalf, if they are cooperatives.
Source: SL 1947, ch 33, §7; SDC Supp 1960, §11.2207.
Structure South Dakota Codified Laws
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 47-21-21 - Officers--Election and qualifications--Removal of officers.
Section 47-21-22 - Conversion of corporation into cooperative.
Section 47-21-23 - Submission of conversion proposition to stockholders--Notice of meeting.
Section 47-21-25 - Consolidating cooperatives.
Section 47-21-26 - Submission of consolidation proposition to members--Notice of meeting.
Section 47-21-28 - Merging cooperatives.
Section 47-21-29 - Submission of merger proposition to members--Notice of meeting.
Section 47-21-32 - Transfer of rights and obligations to surviving cooperative.
Section 47-21-34 - Rights of creditors and lienors unaffected by consolidation or merger.
Section 47-21-36 - Dissolution after commencement of business.
Section 47-21-37 - Submission of dissolution proposition to members--Majority vote required.
Section 47-21-41 - Articles of dissolution--Contents of articles.
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 47-21-46.4 - 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 47-21-52 - 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 47-21-57 - 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 47-21-67 - 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 47-21-73 - Municipal corporation or county grant to use public streets.
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 47-21-83 - Forfeiture of unclaimed credits.
Section 47-21-84 - Application of South Dakota's Public Communications Network Infrastructure.