South Dakota Codified Laws
Title 47 - Corporations
Chapter 21 - Rural Electric Cooperatives

Section 47-21-6 - Incorporators--Requisites and qualifications. - 47-21-6. Incorporators--Requisites and qualifications. Five or more natural persons, or...

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

Section 47-21-8 - Amendment of articles--Procedure--Two-thirds vote required. - 47-21-8. Amendment of articles--Procedure--Two-thirds vote required. A cooperative may amend...

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

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

Section 47-21-11 - Compensation of directors. - 47-21-11. Compensation of directors. Unless the bylaws of a cooperative...

Section 47-21-12 - First directors--Term of office. - 47-21-12. First directors--Term of office. The directors of a cooperative...

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

Section 47-21-14 - Quorum of directors. - 47-21-14. Quorum of directors. A majority of the board of...

Section 47-21-15 - Husband and wife as directors. - 47-21-15. Husband and wife as directors. If a husband and...

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

Section 47-21-17 - Directors not disqualified from acknowledging instruments. - 47-21-17. Directors not disqualified from acknowledging instruments. No person who...

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

Section 47-21-19 - Provisions of bylaws. - 47-21-19. Provisions of bylaws. The bylaws of a cooperative shall...

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

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

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

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

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

Section 47-21-22 - Conversion of corporation into cooperative. - 47-21-22. Conversion of corporation into cooperative. Any corporation organized under...

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

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

Section 47-21-25 - Consolidating cooperatives. - 47-21-25. Consolidating cooperatives. Any two or more cooperatives (each of...

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

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

Section 47-21-28 - Merging cooperatives. - 47-21-28. Merging cooperatives. Any one or more cooperatives (each of...

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

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

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

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

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

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

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

Section 47-21-36 - Dissolution after commencement of business. - 47-21-36. Dissolution after commencement of business. A cooperative which has...

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

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

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

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

Section 47-21-41 - Articles of dissolution--Contents of articles. - 47-21-41. Articles of dissolution--Contents of articles. The board of directors...

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

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

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

Section 47-21-46 - Place of recordation of encumbrance. - 47-21-46. Place of recordation of encumbrance. Any mortgage, deed of...

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

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. - 47-21-46.2. Filing required under chapter 57A-9 to be maintained in...

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

Section 47-21-46.4 - Applicability of other laws--Single filing--Index. - 47-21-46.4. Applicability of other laws--Single filing--Index. To the extent not...

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

Section 47-21-46.6 - Filing fee. - 47-21-46.6. Filing fee. The secretary of state shall charge and...

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

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

Section 47-21-49 - Members of cooperatives--Qualifications. - 47-21-49. Members of cooperatives--Qualifications. Each incorporator of a cooperative shall...

Section 47-21-50 - Use of electric energy required--Failure to make energy available. - 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. - 47-21-51. Husband and wife as members--Membership not transferable--Additional qualifications of...

Section 47-21-52 - Liability of members for acts of cooperative. - 47-21-52. Liability of members for acts of cooperative. No member...

Section 47-21-53 - Annual members' meeting. - 47-21-53. Annual members' meeting. An annual meeting of the members...

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

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

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

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

Section 47-21-58 - Waiver of notice--Attendance as waiver--Exceptions. - 47-21-58. Waiver of notice--Attendance as waiver--Exceptions. Any person entitled to...

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

Section 47-21-60 - Powers of cooperative--Perpetual existence. - 47-21-60. Powers of cooperative--Perpetual existence. A cooperative shall have power...

Section 47-21-61 - Powers of cooperative--Corporate seal. - 47-21-61. Powers of cooperative--Corporate seal. A cooperative shall have power...

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

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

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

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

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

Section 47-21-67 - Powers of cooperative--Eminent domain. - 47-21-67. Powers of cooperative--Eminent domain. A cooperative shall have power...

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

Section 47-21-69 - Powers of cooperative--Extraterritorial powers. - 47-21-69. Powers of cooperative--Extraterritorial powers. A cooperative shall have power...

Section 47-21-70 - Powers of cooperative--Bylaws. - 47-21-70. Powers of cooperative--Bylaws. A cooperative shall have power to...

Section 47-21-71 - Powers of cooperative--Other powers. - 47-21-71. Powers of cooperative--Other powers. A cooperative shall have power...

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

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

Section 47-21-73 - Municipal corporation or county grant to use public streets. - 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. - 47-21-74. Foreign cooperatives--Conditions to local operation--Statement to secretary of state--Contents...

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

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

Section 47-21-77 - Securities regulation laws inapplicable. - 47-21-77. Securities regulation laws inapplicable. The provisions of chapter 47-31B...

Section 47-21-78 - Construction of chapter. - 47-21-78. Construction of chapter. This chapter shall be construed liberally....

Section 47-21-79 - Limitation of actions. - 47-21-79. Limitation of actions. No action or suit may be...

Section 47-21-80 - Severability and saving clause. - 47-21-80. Severability and saving clause. If any provision of this...

Section 47-21-81 - Citation of chapter. - 47-21-81. Citation of chapter. This chapter may be cited as...

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

Section 47-21-83 - Forfeiture of unclaimed credits. - 47-21-83. Forfeiture of unclaimed credits. Any cooperative organized under this...

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

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South Dakota Codified Laws Title 47 - Corporations Chapter 21 - Rural Electric Cooperatives

South Dakota Codified Laws
Title 47 - Corporations
Chapter 21 - Rural Electric Cooperatives