47-30-12. Presence of director at meeting as concurrence--Written dissent--Procedure.
Every director of a corporation, who is present at a meeting of the directors at which any act, proceeding, or omission of such directors in violation of this chapter occurs, is deemed to have concurred therein, unless he at the time causes, or in writing requires, his dissent therefrom to be entered in the minutes of the directors, or if absent from such meeting and the record of such violation appears on the record or minutes of the board of directors and he remains a director for six months thereafter without causing, or in writing requiring his dissent from such violation to be entered in the minutes of the directors.
Source: SDC 1939, ยง13.4316.
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.