47-30-1. Fraudulent subscription agreement--Misdemeanor.
Any person:
(1)Who signs the name of a fictitious person to a subscription for, or agreement to take stock in a corporation, existing or proposed; or
(2)Who procures another to sign such subscription or agreement:
(a)Knowing that the other person does not have the means or does not intend in good faith to comply with all the terms thereof; or
(b)Under an understanding or agreement that the terms of the subscription or agreement will not be complied with or enforced;
is guilty of a Class 2 misdemeanor.
Source: SDC 1939, §13.4307; SL 1983, ch 15, §47.
Structure South Dakota Codified Laws
Chapter 30 - Corporate Frauds And Mismanagement
Section 47-30-1 - Fraudulent subscription agreement--Misdemeanor.
Section 47-30-3 - Fraudulent prospectus or report--Felony.
Section 47-30-4 - Receipt of corporate property without proper accounting entry as theft.
Section 47-30-5 - Fraudulent corporate insolvency--Participating directors--Misdemeanor.
Section 47-30-6 - Fraudulent mutilation or falsification of corporate books as felony.
Section 47-30-7 - Refusal to permit stockholder access to books--Misdemeanor.
Section 47-30-8 - Unauthorized use of another's name in corporate publications--Misdemeanor.
Section 47-30-9 - Participation in false report or refusing to make report as misdemeanor.
Section 47-30-10 - Director's liability for failure to perform duties--Misdemeanor.
Section 47-30-11 - Director deemed to possess knowledge.
Section 47-30-12 - Presence of director at meeting as concurrence--Written dissent--Procedure.