49-33-30. Consolidation or merger with other corporations--Approval of plan.
Any corporation organized under chapter 49-33 may merge with any one or more other corporations, domestic or foreign, into a single corporation, which may be any one of the constituent corporations, or may consolidate with any such corporations into a new corporation formed by the consolidation. Each of the constituent corporations shall enter into a plan of merger or consolidation. Such plan shall, in the case of each corporation organized under this chapter, first be approved by the board of directors of each such corporation and shall thereafter be submitted to and approved by each such corporation by a vote of the stockholders holding a majority, or such greater percentage as is provided in its articles of incorporation, of each class of the corporation's outstanding stock entitled to vote thereon under the corporation's articles of incorporation at an annual or special meeting of stockholders called by the board of directors for the purpose of acting on the plan. Such consolidation or merger shall otherwise be in conformance with and enjoy the benefits of §§47-1A-1101 to 47-1A-1108, inclusive.
Source: SL 1986, ch 396, §11; SL 2005, ch 202, §11.
Structure South Dakota Codified Laws
Title 49 - Public Utilities and Carriers
Chapter 33 - Electric, Street Railway And Gas Corporations
Section 49-33-2 - Provisions applicable to gas companies.
Section 49-33-4 - Certificate of incorporation--Corporate name--Rights conferred by certificate.
Section 49-33-5 - Powers of corporation--Operation of business.
Section 49-33-5.1 - Powers of corporation--Business corporation powers.
Section 49-33-6 - Powers of corporation--Survey of proposed route--Entry upon property.
Section 49-33-8 - Powers of corporation--Holding property.
Section 49-33-9 - Powers of corporation--Purchase of property--Disposition of unneeded property.
Section 49-33-12 - Powers of corporation--Rules and regulations--Rates--Discrimination prohibited.
Section 49-33-13 - Powers of corporation--Extraterritorial powers.
Section 49-33-14 - Board of directors--Election and term of office--Voting for directors--Vacancies.
Section 49-33-14.1 - Bylaws--Adoption, amendment or repeal by board.
Section 49-33-14.2 - Annual and special meetings of stockholders--Quorum--Notice.
Section 49-33-15 - Director as stockholder--Minimum stock ownership.
Section 49-33-17 - Officers of corporation.
Section 49-33-19 - Capital stock subscription.
Section 49-33-21 - Transfer of stock--Stock deemed personal property.
Section 49-33-23 - Issuance of preferred stock.
Section 49-33-24 - Series of preferred stock--Characteristics of stock--Dividends--Voting powers.
Section 49-33-25 - Certificate of issuance of preferred stock--Filing with secretary of state.
Section 49-33-26 - Increasing or decreasing preferred stock--Resolution of directors.
Section 49-33-27 - Liability of stockholders--Stock held by fiduciary or as collateral security.
Section 49-33-28 - Holding of stock in other corporations.
Section 49-33-30 - Consolidation or merger with other corporations--Approval of plan.
Section 49-33-31 - Articles of incorporation requiring greater vote control.