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CHAPTER 47-21

RURAL ELECTRIC COOPERATIVES

47-21-1      Definitions.
47-21-2      Purpose and authority.
47-21-3      Name of cooperative--Exceptions.
47-21-4      Exclusive use of particular words.
47-21-5      Requirement that name be distinct.
47-21-6      Incorporators--Requisites and qualifications.
47-21-7      Articles of incorporation--Unnecessary recitals--Signing of articles.
47-21-8      Amendment of articles--Procedure--Two-thirds vote required.
47-21-9      Required recitals in amendment--Affidavit of compliance.
47-21-10      Board of directors--Bylaws--Meetings by teleconference.
47-21-11      Compensation of directors.
47-21-12      First directors--Term of office.
47-21-13      Election of directors--Maximum term of office.
47-21-14      Quorum of directors.
47-21-15      Husband and wife as directors.
47-21-16      Powers of board of directors.
47-21-17      Directors not disqualified from acknowledging instruments.
47-21-18      Adoption of first bylaws by directors--Subsequent bylaws adopted by members.
47-21-19      Provisions of bylaws.
47-21-20      Bylaw provision dividing area served into districts--Election of directors by districts--District meetings--Proxy voting prohibited.
47-21-21      Officers--Election and qualifications--Removal of officers.
47-21-21.1      Repealed.
47-21-21.2      Indemnification of directors, officers, agents, and employees against liability under certain circumstances.
47-21-21.3      Circumstances under which directors, officers, agents, and employees may not be indemnified.
47-21-21.4      Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding.
47-21-22      Conversion of corporation into cooperative.
47-21-23      Submission of conversion proposition to stockholders--Notice of meeting.
47-21-24      Two-thirds vote required for approval--Articles of conversion--Contents of articles--Affidavit of compliance.
47-21-25      Consolidating cooperatives.
47-21-26      Submission of consolidation proposition to members--Notice of meeting.
47-21-27      Majority vote required for approval--Articles of consolidation--Contents of articles--Affidavit of compliance.
47-21-28      Merging cooperatives.
47-21-29      Submission of merger proposition to members--Notice of meeting.
47-21-30      Majority vote required for approval--Articles of merger--Contents of articles--Affidavit of compliance.
47-21-31      Articles of consolidation as governing consolidated cooperative--Articles of surviving cooperative as governing merged cooperative.
47-21-32      Transfer of rights and obligations to surviving cooperative.
47-21-33      Liabilities after consolidation or merger--Preexisting claims--Substitution of parties.
47-21-34      Rights of creditors and lienors unaffected by consolidation or merger.
47-21-35      Dissolution before commencement of business--Articles of dissolution--Majority approval required--Contents of articles.
47-21-36      Dissolution after commencement of business.
47-21-37      Submission of dissolution proposition to members--Majority vote required.
47-21-38      Certificate of election to dissolve--Contents of certificate--Submission to secretary of state.
47-21-39      Cessation of business--Continuance of corporate existence--Notice to creditors--Publication.
47-21-40      Liquidation of affairs of cooperative--Distribution of assets--Rights of patrons--Rights of members--Distribution of remains.
47-21-41      Articles of dissolution--Contents of articles.
47-21-42      Delivery of articles to secretary of state--Fees--Effective date of action--Certificates of election to dissolve.
47-21-43      Fee schedule of secretary of state.
47-21-44      Encumbering cooperative property in favor of governmental agency permitted.
47-21-45      Circumstances under which property may be transferred--Majority vote required--Transfer to security holders.
47-21-46      Place of recordation of encumbrance.
47-21-46.1      Filing and recording of trust deed or mortgage in Office of Secretary of State--Effect.
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.
47-21-46.3      Filing of mortgage or trust deed covering less than fee simple interest--Effect--Termination--Sufficiency of description.
47-21-46.4      Applicability of other laws--Single filing--Index.
47-21-46.5      Assignment or discharge of trust deed or mortgage.
47-21-46.6      Filing fee.
47-21-47      After-acquired property as subject to encumbrance--Recordation as notice.
47-21-48      Encumbrance against personal property--Continuance of lien without refiling.
47-21-49      Members of cooperatives--Qualifications.
47-21-50      Use of electric energy required--Failure to make energy available.
47-21-51      Husband and wife as members--Membership not transferable--Additional qualifications of members.
47-21-52      Liability of members for acts of cooperative.
47-21-53      Annual members' meeting.
47-21-54      Special meetings for members--Procedure for calling.
47-21-55      Notice of meeting--Contents of notice--Method of giving notice.
47-21-56      Quorum for members' meetings--Quorum for district meeting--Adjournment for failure of quorum.
47-21-57      Voting by members--Spouse voting for member--Mail voting.
47-21-58      Waiver of notice--Attendance as waiver--Exceptions.
47-21-59      Powers of cooperative--Capacity to sue and be sued.
47-21-60      Powers of cooperative--Perpetual existence.
47-21-61      Powers of cooperative--Corporate seal.
47-21-62      Powers of cooperative--Generation and distribution of electric energy.
47-21-63      Powers of cooperative--Dealing in property and equipment.
47-21-64      Powers of cooperative--Franchises, licenses and easements.
47-21-65      Powers of cooperative--Borrowing--Security for borrowing.
47-21-66      Powers of cooperative--Construction and maintenance of facilities on public lands.
47-21-67      Powers of cooperative--Eminent domain.
47-21-68      Powers of cooperative--Joining other cooperatives.
47-21-69      Powers of cooperative--Extraterritorial powers.


47-21-70      Powers of cooperative--Bylaws.
47-21-71      Powers of cooperative--Other powers.
47-21-72      Requirement that cooperative be nonprofit--Disposition of revenues.
47-21-72.1      Directors not liable for distribution in good faith reliance on financial statements or accountants' reports.
47-21-73      Municipal corporation or county grant to use public streets.
47-21-74      Foreign cooperatives--Conditions to local operation--Statement to secretary of state--Contents of statement.
47-21-75      Construction to comply with National Electrical Safety Code--Compliance establishes due care in negligence claim.
47-21-76      Change of location of principal office--Certificate to secretary of state.
47-21-77      Securities regulation laws inapplicable.
47-21-78      Construction of chapter.
47-21-79      Limitation of actions.
47-21-80      Severability and saving clause.
47-21-81      Citation of chapter.
47-21-82      Cooperatives able to use property and funds to promote economic development and may lend money--Restrictions on loans.
47-21-83      Forfeiture of unclaimed credits.
47-21-84      Application of South Dakota's Public Communications Network Infrastructure.


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