<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2083625Normal { text-align: center; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2083625HG4 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083625DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083625HG4C { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083625Normal-000000 { text-align: 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Legislature"></head><body><div><p dir="ltr" class="s2083625Normal"><span xml:space="preserve" class="s2083625HG4">CHAPTER </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15</span></a></p><p dir="ltr" class="s2083625Normal"><span xml:space="preserve" class="s2083625HG4C">COOPERATIVES--FORMATION AND GENERAL POWERS </span></p><p dir="ltr" class="s2083625Normal-000000"><span xml:space="preserve" class="s2083625DefaultParagraphFont"> </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-1" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-1</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Definitions. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-2" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-2</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Purposes--Banking and insurance prohibited. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-3" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-3</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Requisites for formation. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-4" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-4</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Articles of incorporation--Contents. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-5" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-5</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Particular provisions in articles or bylaws. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-6" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-6</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Filing articles with secretary of state--Beginning of corporate existence. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-7" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-7</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Issuance of certificate of incorporation--Certificate as conclusive evidence of proper incorporation. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-8" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-8</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Amendment of articles--Majority vote required. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-9" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-9</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Procedure for amending articles. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-10" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-10</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Filing with secretary of state--Certificate of amendment. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-11" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-11</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Effect of amendment. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-12" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-12</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Articles and bylaws--Action to invalidate amendment--Limitations.</span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-13" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-13</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Bankruptcy proceeding as amendment. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-14" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-14</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Amendment converting corporation to cooperative. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-15" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-15</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Adoption of restated articles. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-15.1" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-15.1</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Restated articles effective when restated certificate issued--Original articles superseded. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-16" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-16</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Bylaws--Adoption and amendment. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-17" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-17</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Bylaws--Majority vote. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-18" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-18</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-18" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-18</span></a><span class="s2083625DefaultParagraphFont">. Superseded</span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-18.1" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-18.1</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-18.1" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-18.1</span></a><span class="s2083625DefaultParagraphFont">. Repealed by SL 2008, ch 275, § 56.</span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-19" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-19</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-19" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-19</span></a><span class="s2083625DefaultParagraphFont">. Superseded</span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-20" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-20</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Offices and agents of preexisting cooperatives. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-21" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-21</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-21" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-21</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont"> to 47-15-26. Repealed by SL 2008, ch 275, § 56.</span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-27" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-27</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Existence. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-28" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-28</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Actions. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-29" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-29</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Seals. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-30" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-30</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Contracts--Encumbrances. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-31" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-31</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Securities holdings. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-32" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-32</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Investments and lending. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-33" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-33</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Territorial. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-34" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-34</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Officers and agents. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-35" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-35</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Bylaws. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-36" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-36</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Donations. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-37" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-37</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Indemnification of agents. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-38" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-38</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Cessation of activities. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-39" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-39</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Powers of cooperatives--Effectuation of purpose. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-40" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-40</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Promotion expenses--Commissions on stock sales--Limitations. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-41" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-41</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Use of term "cooperative". </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-42" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-42</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Unauthorized use of term "cooperative" as petty offense. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-43" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-43</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Injunction against unauthorized use of term "cooperative". </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-44" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-44</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Cooperatives governed by chapter--Preexisting cooperatives. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-45" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-45</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Continuation of preexisting cooperatives. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-46" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-46</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Duration of existence of preexisting cooperatives. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-47" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-47</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Method of giving notice--Waiver of notice. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-48" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-48</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Cooperatives governed by other laws. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-49" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-49</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Severability and saving clause. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-50" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-50</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Citation of cooperative provisions. </span></p><p dir="ltr" class="s2083625B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-51" rel="noopener"><span class="s2083625DefaultParagraphFont">47-15-51</span></a><span xml:space="preserve" class="s2083625DefaultParagraphFont">    Filing false document as felony. </span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068916Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068916SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068916CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068916Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068916DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068916Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068916000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068916SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068916SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068916Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-1"><span class="s2068916SENU">47-15-1</span></a><span xml:space="preserve" class="s2068916SENU">. </span><span class="s2068916CL">Definitions.</span></p><p dir="ltr" class="s2068916Normal-000000"><span xml:space="preserve" class="s2068916DefaultParagraphFont">Terms used in chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15"><span class="s2068916DefaultParagraphFont">47-15</span></a><span xml:space="preserve" class="s2068916DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20"><span class="s2068916DefaultParagraphFont">47-20</span></a><span class="s2068916DefaultParagraphFont">, inclusive, mean:</span></p><p dir="ltr" class="s2068916Normal-000001"><span class="s2068916DefaultParagraphFont">(1)    "Articles," articles of incorporation;</span></p><p dir="ltr" class="s2068916Normal-000001"><span xml:space="preserve" class="s2068916DefaultParagraphFont">(2)    "Cooperative," a cooperative corporation which is subject to the provisions of chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15"><span class="s2068916DefaultParagraphFont">47-15</span></a><span xml:space="preserve" class="s2068916DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20"><span class="s2068916DefaultParagraphFont">47-20</span></a><span class="s2068916DefaultParagraphFont">, inclusive;</span></p><p dir="ltr" class="s2068916Normal-000001"><span class="s2068916DefaultParagraphFont">(3)    "Corporation," a corporation which is not a cooperative;</span></p><p dir="ltr" class="s2068916Normal-000001"><span class="s2068916DefaultParagraphFont">(4)    "Electronic transmission" or "electronically transmitted," any process of communication not directly involving the physical transfer of paper that is suitable for the retention, retrieval, and reproduction of information by the recipient;</span></p><p dir="ltr" class="s2068916Normal-000001"><span class="s2068916DefaultParagraphFont">(5)    "Entity," a domestic and foreign corporation, limited liability company, partnership, cooperative or other legal entity, trust, domestic and foreign unincorporated entity or association, and bodies politic;</span></p><p dir="ltr" class="s2068916Normal-000001"><span class="s2068916DefaultParagraphFont">(6)    "Foreign cooperative," a cooperative association organized and operated on a cooperative basis under the laws of any other state, territory, or possession of the United States, or of the District of Columbia or any foreign state, province, or country;</span></p><p dir="ltr" class="s2068916Normal-000001"><span class="s2068916DefaultParagraphFont">(7)    "Individual," any natural person;</span></p><p dir="ltr" class="s2068916Normal-000001"><span class="s2068916DefaultParagraphFont">(8)    "Member," a person who has been qualified and accepted for membership in a cooperative;</span></p><p dir="ltr" class="s2068916Normal-000001"><span class="s2068916DefaultParagraphFont">(9)    "Patron," any person who purchases products or services provided in the normal course of the business of a cooperative. The term "patron" does not include a telecommunications company which purchases any products or services from a telecommunications cooperative or pays any fees or settlements to a telecommunications cooperative, other than local telecommunications services; and</span></p><p dir="ltr" class="s2068916Normal-000001"><span class="s2068916DefaultParagraphFont">(10)    "Person," an entity or individual entity.</span></p><p dir="ltr" class="s2068916Normal"><span xml:space="preserve" class="s2068916000002"> </span></p><p dir="ltr" class="s2068916Normal"><span class="s2068916SCL">Source:</span><span xml:space="preserve" class="s2068916SCL-000003"> SDC 1939 § 11.1101; SL 1949, ch 23; SL 1965, ch 23, § 1; SL 1987, ch 342; SL 1994, ch 351, § 120; SL 2018, ch 260, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068917Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068917SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068917CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068917Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068917DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068917000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068917SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068917SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068917Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-2"><span class="s2068917SENU">47-15-2</span></a><span xml:space="preserve" class="s2068917SENU">. </span><span class="s2068917CL">Purposes--Banking and insurance prohibited.</span></p><p dir="ltr" class="s2068917Normal-000000"><span class="s2068917DefaultParagraphFont">Cooperatives may be organized under this chapter for any lawful purpose except banking and insurance.</span></p><p dir="ltr" class="s2068917Normal"><span xml:space="preserve" class="s2068917000001"> </span></p><p dir="ltr" class="s2068917Normal"><span class="s2068917SCL">Source:</span><span xml:space="preserve" class="s2068917SCL-000002"> SDC 1939, § 11.1102 as enacted by SL 1965, ch 23, § 1; SL 1978, ch 337.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068918Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068918SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068918CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068918Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068918DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068918000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068918SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068918SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068918Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-3"><span class="s2068918SENU">47-15-3</span></a><span xml:space="preserve" class="s2068918SENU">. </span><span class="s2068918CL">Requisites for formation.</span></p><p dir="ltr" class="s2068918Normal-000000"><span class="s2068918DefaultParagraphFont">Three or more individuals of legal age, one of whom must be a resident, may form a cooperative by signing, acknowledging, filing, and recording articles of incorporation.</span></p><p dir="ltr" class="s2068918Normal"><span xml:space="preserve" class="s2068918000001"> </span></p><p dir="ltr" class="s2068918Normal"><span class="s2068918SCL">Source:</span><span xml:space="preserve" class="s2068918SCL-000002"> SDC 1939, § 11.1104 as enacted by SL 1965, ch 23, § 1; SL 2018, ch 260, § 2.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068919Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068919SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068919CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068919Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068919DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068919Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068919000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068919SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068919SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068919Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-4"><span class="s2068919SENU">47-15-4</span></a><span xml:space="preserve" class="s2068919SENU">. </span><span class="s2068919CL">Articles of incorporation--Contents.</span></p><p dir="ltr" class="s2068919Normal-000000"><span class="s2068919DefaultParagraphFont">The articles of incorporation shall set forth that they are executed pursuant to the provisions of this chapter and shall state:</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(1)    The name of the cooperative;</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(2)    The period of existence, unless perpetual;</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(3)    The purposes for which organized. It is sufficient to state that the cooperative may engage in any activity within the purposes for which cooperatives may be organized, and all such activities shall then be deemed within its purposes, subject to express limitations;</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(4)    Whether the cooperative is organized with or without capital stock;</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(5)    The designation of classes of members, if more than one;</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(6)    The number and par value of shares of each authorized class of stock; if more than one class is authorized, the designation, preferences, limitations, and relative rights of each class shall also be set forth;</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(7)    Which classes of stock are membership stock;</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(8)    As to each class of stock, the rate of dividend, or that the rate of dividend may be fixed by the board, or that no dividend will be paid;</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(9)    Any reservation of a right to acquire or recall any stock;</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(10)    The basis of distribution of assets in the event of liquidation;</span></p><p dir="ltr" class="s2068919Normal-000001"><span xml:space="preserve" class="s2068919DefaultParagraphFont">(11)    The municipality in this state in which the cooperative's principal office is to be located and the information required by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=59-11-6"><span class="s2068919DefaultParagraphFont">59-11-6</span></a><span class="s2068919DefaultParagraphFont">;</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(12)    The number of directors, or that the number of directors shall be as stated in the bylaws;</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(13)    The name and address of each incorporator; and</span></p><p dir="ltr" class="s2068919Normal-000001"><span class="s2068919DefaultParagraphFont">(14)    The names and addresses of at least three incorporators who will act as the temporary board and will serve until the first annual meeting of members or stockholders.</span></p><p dir="ltr" class="s2068919Normal"><span xml:space="preserve" class="s2068919000002"> </span></p><p dir="ltr" class="s2068919Normal"><span class="s2068919SCL">Source:</span><span xml:space="preserve" class="s2068919SCL-000003"> SDC 1939, § 11.1105 as enacted by SL 1965, ch 23, § 1; SL 1966, ch 16, § 1; SL 1989, ch 390, § 1; SL 1990, ch 367, § 10; SL 1992, ch 60, § 2; SL 2008, ch 275, § 55.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068920Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068920SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068920CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068920Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068920DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068920000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068920SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068920SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068920Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-5"><span class="s2068920SENU">47-15-5</span></a><span xml:space="preserve" class="s2068920SENU">. </span><span class="s2068920CL">Particular provisions in articles or bylaws.</span></p><p dir="ltr" class="s2068920Normal-000000"><span xml:space="preserve" class="s2068920DefaultParagraphFont">It is not necessary to set forth in the articles of incorporation any of the powers granted by chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15"><span class="s2068920DefaultParagraphFont">47-15</span></a><span xml:space="preserve" class="s2068920DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20"><span class="s2068920DefaultParagraphFont">47-20</span></a><span class="s2068920DefaultParagraphFont">, inclusive. The articles may include additional provisions, consistent with law, including provisions which are required or permitted to be set forth in the bylaws. Any provision required or permitted in the bylaws has equal force and effect if stated in the articles. Whenever a provision of the articles is inconsistent with a bylaw, the articles control. The bylaws of a cooperative may contain any provisions for the regulation and maintenance of the affairs of the cooperative not inconsistent with law or the articles of incorporation.</span></p><p dir="ltr" class="s2068920Normal"><span xml:space="preserve" class="s2068920000001"> </span></p><p dir="ltr" class="s2068920Normal"><span class="s2068920SCL">Source:</span><span xml:space="preserve" class="s2068920SCL-000002"> SDC 1939, § 11.1106 as enacted by SL 1965, ch 23, § 1; SL 2000, ch 220, § 3.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068921Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068921SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068921CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068921Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068921DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068921000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068921SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068921SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068921Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-6"><span class="s2068921SENU">47-15-6</span></a><span xml:space="preserve" class="s2068921SENU">. </span><span class="s2068921CL">Filing articles with secretary of state--Beginning of corporate existence.</span></p><p dir="ltr" class="s2068921Normal-000000"><span class="s2068921DefaultParagraphFont">The original articles of incorporation, duly signed, shall be delivered to the secretary of state for filing and recording. The legal corporate existence of a cooperative begins when the articles are so delivered.</span></p><p dir="ltr" class="s2068921Normal"><span xml:space="preserve" class="s2068921000001"> </span></p><p dir="ltr" class="s2068921Normal"><span class="s2068921SCL">Source:</span><span xml:space="preserve" class="s2068921SCL-000002"> SDC 1939, § 11.1107 as enacted by SL 1965, ch 23, § 1; SL 1989, ch 390, § 2; SL 2012, ch 222, § 2.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068922Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068922SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068922CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068922Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068922DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068922000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068922SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068922SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068922Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-7"><span class="s2068922SENU">47-15-7</span></a><span xml:space="preserve" class="s2068922SENU">. </span><span class="s2068922CL">Issuance of certificate of incorporation--Certificate as conclusive evidence of proper incorporation.</span></p><p dir="ltr" class="s2068922Normal-000000"><span class="s2068922DefaultParagraphFont">Upon receipt of the articles of incorporation and payment of the required fees the secretary of state shall issue a certificate of incorporation. The certificate of incorporation shall be conclusive evidence, except as against the state in a proceeding to cancel or revoke such certificate, that all conditions precedent to corporate existence have been met.</span></p><p dir="ltr" class="s2068922Normal"><span xml:space="preserve" class="s2068922000001"> </span></p><p dir="ltr" class="s2068922Normal"><span class="s2068922SCL">Source:</span><span xml:space="preserve" class="s2068922SCL-000002"> SDC 1939, § 11.1108 as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068923Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068923SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068923CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068923Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068923DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068923Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068923000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068923SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068923SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068923Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-8"><span class="s2068923SENU">47-15-8</span></a><span xml:space="preserve" class="s2068923SENU">. </span><span class="s2068923CL">Amendment of articles--Majority vote required.</span></p><p dir="ltr" class="s2068923Normal-000000"><span xml:space="preserve" class="s2068923DefaultParagraphFont">At any member meeting, a cooperative may adopt any amendment to its articles which is lawful under §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-4"><span class="s2068923DefaultParagraphFont">47-15-4</span></a><span xml:space="preserve" class="s2068923DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-5"><span class="s2068923DefaultParagraphFont">47-15-5</span></a><span class="s2068923DefaultParagraphFont">, if a statement of the proposed amendment was contained in the notice of the meeting.</span></p><p dir="ltr" class="s2068923Normal-000001"><span class="s2068923DefaultParagraphFont">An amendment is adopted if approved by a majority of any quorum of members voting thereon at the meeting.</span></p><p dir="ltr" class="s2068923Normal"><span xml:space="preserve" class="s2068923000002"> </span></p><p dir="ltr" class="s2068923Normal"><span class="s2068923SCL">Source:</span><span xml:space="preserve" class="s2068923SCL-000003"> SDC 1939, § 11.1135 as enacted by SL 1965, ch 23, § 1; SL 1986, ch 387.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068924Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068924SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068924CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068924Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068924DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068924Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068924000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068924SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068924SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068924Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-9"><span class="s2068924SENU">47-15-9</span></a><span xml:space="preserve" class="s2068924SENU">. </span><span class="s2068924CL">Procedure for amending articles.</span></p><p dir="ltr" class="s2068924Normal-000000"><span class="s2068924DefaultParagraphFont">When any amendment to the articles is adopted, the president and secretary of the cooperative shall prepare and sign in duplicate, a certificate sealed with the seal of the cooperative, if it has a seal, stating:</span></p><p dir="ltr" class="s2068924Normal-000001"><span class="s2068924DefaultParagraphFont">(1)    The name of the cooperative;</span></p><p dir="ltr" class="s2068924Normal-000001"><span class="s2068924DefaultParagraphFont">(2)    The amendment and date of adoption;</span></p><p dir="ltr" class="s2068924Normal-000001"><span class="s2068924DefaultParagraphFont">(3)    The number of members voting for and against the amendment;</span></p><p dir="ltr" class="s2068924Normal-000001"><span class="s2068924DefaultParagraphFont">(4)    The number of members attending the meeting and a statement that such number constituted a quorum of members;</span></p><p dir="ltr" class="s2068924Normal-000001"><span class="s2068924DefaultParagraphFont">(5)    That the notice of the meeting of members was given as required by law.</span></p><p dir="ltr" class="s2068924Normal"><span xml:space="preserve" class="s2068924000002"> </span></p><p dir="ltr" class="s2068924Normal"><span class="s2068924SCL">Source:</span><span xml:space="preserve" class="s2068924SCL-000003"> SDC 1939, § 11.1136 (1) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068925Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068925SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068925CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068925Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068925DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068925000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068925SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068925SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068925Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-10"><span class="s2068925SENU">47-15-10</span></a><span xml:space="preserve" class="s2068925SENU">. </span><span class="s2068925CL">Filing with secretary of state--Certificate of amendment.</span></p><p dir="ltr" class="s2068925Normal-000000"><span xml:space="preserve" class="s2068925DefaultParagraphFont">One copy of the certificate required by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-9"><span class="s2068925DefaultParagraphFont">47-15-9</span></a><span xml:space="preserve" class="s2068925DefaultParagraphFont"> shall be retained in the records of the cooperative and one copy shall be filed and recorded in the Office of the Secretary of State, who shall issue a certificate of amendment thereon.</span></p><p dir="ltr" class="s2068925Normal"><span xml:space="preserve" class="s2068925000001"> </span></p><p dir="ltr" class="s2068925Normal"><span class="s2068925SCL">Source:</span><span xml:space="preserve" class="s2068925SCL-000002"> SDC 1939, § 11.1136 (2) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068926Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068926SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068926CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068926Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068926DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068926000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068926SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068926SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068926Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-11"><span class="s2068926SENU">47-15-11</span></a><span xml:space="preserve" class="s2068926SENU">. </span><span class="s2068926CL">Effect of amendment.</span></p><p dir="ltr" class="s2068926Normal-000000"><span class="s2068926DefaultParagraphFont">No amendment to the articles may affect any existing cause of action or proceeding to which the cooperative is a party or existing rights of persons other than members or stockholders.</span></p><p dir="ltr" class="s2068926Normal"><span xml:space="preserve" class="s2068926000001"> </span></p><p dir="ltr" class="s2068926Normal"><span class="s2068926SCL">Source:</span><span xml:space="preserve" class="s2068926SCL-000002"> SDC 1939, § 11.1136 (3) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2082645Normal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2082645SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2082645CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2082645Statute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2082645DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2082645000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2082645NoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2082645DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2082645SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 47-15-12 - Articles and bylaws--Action to invalidate amendment--Limitations."><meta property="og:description" content="SDLRC Codified Law 47-15-12 - Articles and bylaws--Action to invalidate amendment--Limitations."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=47-15-12"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s2082645Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-12" rel="noopener"><span class="s2082645SENU">47-15-12</span></a><span xml:space="preserve" class="s2082645SENU">. </span><span xml:space="preserve" class="s2082645CL">Articles and bylaws--Action to invalidate amendment--Limitations. </span></p><p dir="ltr" class="s2082645Statute"><span class="s2082645DefaultParagraphFont">No action may be maintained to invalidate any amendment to the articles or bylaws because of the manner of its adoption unless commenced within two years after its adoption.</span></p><p dir="ltr" class="s2082645Normal"><span xml:space="preserve" class="s2082645000000"> </span></p><p dir="ltr" class="s2082645NoIndent"><span xml:space="preserve" class="s2082645DefaultParagraphFont-000001">Source: </span><span class="s2082645SCL">SDC 1939, § 11.1136 (4) as enacted by SL 1965, ch 23, § 1; SL 2021, ch 194, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068928Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068928SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068928CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068928Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068928DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068928000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068928SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068928SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068928Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-13"><span class="s2068928SENU">47-15-13</span></a><span xml:space="preserve" class="s2068928SENU">. </span><span class="s2068928CL">Bankruptcy proceeding as amendment.</span></p><p dir="ltr" class="s2068928Normal-000000"><span class="s2068928DefaultParagraphFont">Certified copies of any order of a court of the United States, in proceedings under the bankruptcy laws, shall be filed and recorded as an amendment if the order effects an amendment to the articles. The principal officers of a cooperative shall cause each order to be promptly filed and recorded after it becomes final.</span></p><p dir="ltr" class="s2068928Normal"><span xml:space="preserve" class="s2068928000001"> </span></p><p dir="ltr" class="s2068928Normal"><span class="s2068928SCL">Source:</span><span xml:space="preserve" class="s2068928SCL-000002"> SDC 1939, § 11.1138 as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068929Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068929SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068929CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068929Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068929DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068929000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068929SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068929SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068929Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-14"><span class="s2068929SENU">47-15-14</span></a><span xml:space="preserve" class="s2068929SENU">. </span><span class="s2068929CL">Amendment converting corporation to cooperative.</span></p><p dir="ltr" class="s2068929Normal-000000"><span xml:space="preserve" class="s2068929DefaultParagraphFont">Any corporation may convert itself into a cooperative by adopting an amendment to its articles by which it elects to become subject to chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15"><span class="s2068929DefaultParagraphFont">47-15</span></a><span xml:space="preserve" class="s2068929DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20"><span class="s2068929DefaultParagraphFont">47-20</span></a><span class="s2068929DefaultParagraphFont">, inclusive, together with changes in its articles required by said chapters and other desirable changes permitted by said chapters. Such amendment shall be adopted, filed, and recorded in the manner provided by the law then applicable to the corporation and the conversion shall be effective upon issuance of the certificate of amendment by the secretary of state.</span></p><p dir="ltr" class="s2068929Normal"><span xml:space="preserve" class="s2068929000001"> </span></p><p dir="ltr" class="s2068929Normal"><span class="s2068929SCL">Source:</span><span xml:space="preserve" class="s2068929SCL-000002"> SDC 1939, § 11.1142 as enacted by SL 1965, ch 23, § 1; SL 1976, ch 287, § 2.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068930Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068930SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068930CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068930Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068930DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068930000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068930SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068930SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068930Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-15"><span class="s2068930SENU">47-15-15</span></a><span xml:space="preserve" class="s2068930SENU">. </span><span class="s2068930CL">Adoption of restated articles.</span></p><p dir="ltr" class="s2068930Normal-000000"><span class="s2068930DefaultParagraphFont">A cooperative may, by action taken in the manner required for an amendment, adopt restated articles which shall state that they supersede existing articles and amendments. Restated articles shall meet all requirements of original articles.</span></p><p dir="ltr" class="s2068930Normal"><span xml:space="preserve" class="s2068930000001"> </span></p><p dir="ltr" class="s2068930Normal"><span class="s2068930SCL">Source:</span><span xml:space="preserve" class="s2068930SCL-000002"> SDC 1939, § 11.1137 as enacted by SL 1965, ch 23, § 1; SL 1977, ch 381, § 9.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068931Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068931SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068931CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068931Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068931DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068931000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068931SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068931SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068931Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-15.1"><span class="s2068931SENU">47-15-15.1</span></a><span xml:space="preserve" class="s2068931SENU">. </span><span class="s2068931CL">Restated articles effective when restated certificate issued--Original articles superseded.</span></p><p dir="ltr" class="s2068931Normal-000000"><span class="s2068931DefaultParagraphFont">Upon the issuance of the restated certificate of incorporation by the secretary of state, the restated articles of incorporation shall become effective and shall supersede the original articles of incorporation and all amendments thereto.</span></p><p dir="ltr" class="s2068931Normal"><span xml:space="preserve" class="s2068931000001"> </span></p><p dir="ltr" class="s2068931Normal"><span class="s2068931SCL">Source:</span><span xml:space="preserve" class="s2068931SCL-000002"> SL 1977, ch 381, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068932Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068932SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068932CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068932Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068932DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068932000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068932SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068932SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068932Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-16"><span class="s2068932SENU">47-15-16</span></a><span xml:space="preserve" class="s2068932SENU">. </span><span class="s2068932CL">Bylaws--Adoption and amendment.</span></p><p dir="ltr" class="s2068932Normal-000000"><span class="s2068932DefaultParagraphFont">Bylaws may be adopted and amended only by the members, unless the members adopt a bylaw which permits the board to make and amend specified bylaws. Any bylaw adopted or amended by the board shall be reported at the next regular member meeting. Any such bylaw shall be at any time subject to amendment or repeal by the members.</span></p><p dir="ltr" class="s2068932Normal"><span xml:space="preserve" class="s2068932000001"> </span></p><p dir="ltr" class="s2068932Normal"><span class="s2068932SCL">Source:</span><span xml:space="preserve" class="s2068932SCL-000002"> SDC 1939, § 11.1109 as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068933Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068933SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068933CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068933Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068933DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068933000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068933SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068933SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068933Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-17"><span class="s2068933SENU">47-15-17</span></a><span xml:space="preserve" class="s2068933SENU">. </span><span class="s2068933CL">Bylaws--Majority vote.</span></p><p dir="ltr" class="s2068933Normal-000000"><span xml:space="preserve" class="s2068933DefaultParagraphFont">Unless the bylaws provide otherwise, any bylaw may be adopted, amended, or repealed by a majority of the members present at a meeting, provided that the members voting must be sufficient in number to constitute a quorum as provided in chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-16"><span class="s2068933DefaultParagraphFont">47-16</span></a><span xml:space="preserve" class="s2068933DefaultParagraphFont"> or by bylaws.</span></p><p dir="ltr" class="s2068933Normal"><span xml:space="preserve" class="s2068933000001"> </span></p><p dir="ltr" class="s2068933Normal"><span class="s2068933SCL">Source:</span><span xml:space="preserve" class="s2068933SCL-000002"> SDC 1939, § 11.1109 as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS47-15-18 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 47-15-18 "> <META NAME="Description" Content="South Dakota Codified Laws 47-15-18"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 47-15-18. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Superseded<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS47-15-18.1 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 47-15-18.1 "> <META NAME="Description" Content="South Dakota Codified Laws 47-15-18.1"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 47-15-18.1. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2008, ch 275, &#167;&nbsp;56.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS47-15-19 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 47-15-19 "> <META NAME="Description" Content="South Dakota Codified Laws 47-15-19"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 47-15-19. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Superseded<p> </BODY> </HTML> <br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068937Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068937SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068937CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068937Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068937DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068937000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068937SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068937SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068937Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-20"><span class="s2068937SENU">47-15-20</span></a><span xml:space="preserve" class="s2068937SENU">. </span><span class="s2068937CL">Offices and agents of preexisting cooperatives.</span></p><p dir="ltr" class="s2068937Normal-000000"><span xml:space="preserve" class="s2068937DefaultParagraphFont">For the purposes of chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15"><span class="s2068937DefaultParagraphFont">47-15</span></a><span xml:space="preserve" class="s2068937DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20"><span class="s2068937DefaultParagraphFont">47-20</span></a><span xml:space="preserve" class="s2068937DefaultParagraphFont">, inclusive, the street address, or the statement concerning the address, of a cooperative existing on July 1, 1965, becoming subject to said chapters, as set forth in the articles for its business office, shall be considered its registered office and the secretary of the cooperative shall be considered its registered agent unless either is amended pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20-17"><span class="s2068937DefaultParagraphFont">47-20-17</span></a><span class="s2068937DefaultParagraphFont">.</span></p><p dir="ltr" class="s2068937Normal"><span xml:space="preserve" class="s2068937000001"> </span></p><p dir="ltr" class="s2068937Normal"><span class="s2068937SCL">Source:</span><span xml:space="preserve" class="s2068937SCL-000002"> SDC 1939, § 11.1110 as enacted by SL 1965, ch 23, § 1; SL 1989, ch 390, § 3; SL 1990, ch 367, § 11.</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS47-15-21 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 47-15-21 "> <META NAME="Description" Content="South Dakota Codified Laws 47-15-21"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 47-15-21 to 47-15-26. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2008, ch 275, &#167;&nbsp;56.<p> </BODY> </HTML> <br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068939Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068939SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068939CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068939Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068939DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068939000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068939SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068939SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068939Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-27"><span class="s2068939SENU">47-15-27</span></a><span xml:space="preserve" class="s2068939SENU">. </span><span class="s2068939CL">Powers of cooperatives--Existence.</span></p><p dir="ltr" class="s2068939Normal-000000"><span class="s2068939DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may exist perpetually.</span></p><p dir="ltr" class="s2068939Normal"><span xml:space="preserve" class="s2068939000001"> </span></p><p dir="ltr" class="s2068939Normal"><span class="s2068939SCL">Source:</span><span xml:space="preserve" class="s2068939SCL-000002"> SDC 1939, § 11.1103 (1) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068940Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068940SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068940CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068940Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068940DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068940000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068940SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068940SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068940Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-28"><span class="s2068940SENU">47-15-28</span></a><span xml:space="preserve" class="s2068940SENU">. </span><span class="s2068940CL">Powers of cooperatives--Actions.</span></p><p dir="ltr" class="s2068940Normal-000000"><span class="s2068940DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may sue and be sued.</span></p><p dir="ltr" class="s2068940Normal"><span xml:space="preserve" class="s2068940000001"> </span></p><p dir="ltr" class="s2068940Normal"><span class="s2068940SCL">Source:</span><span xml:space="preserve" class="s2068940SCL-000002"> SDC 1939, § 11.1103 (2) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068941Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068941SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068941CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068941Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068941DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068941000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068941SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068941SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068941Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-29"><span class="s2068941SENU">47-15-29</span></a><span xml:space="preserve" class="s2068941SENU">. </span><span class="s2068941CL">Powers of cooperatives--Seals.</span></p><p dir="ltr" class="s2068941Normal-000000"><span class="s2068941DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may have a seal.</span></p><p dir="ltr" class="s2068941Normal"><span xml:space="preserve" class="s2068941000001"> </span></p><p dir="ltr" class="s2068941Normal"><span class="s2068941SCL">Source:</span><span xml:space="preserve" class="s2068941SCL-000002"> SDC 1939, § 11.1103 (3) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068942Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068942SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068942CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068942Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068942DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068942Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068942000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068942SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068942SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068942Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-30"><span class="s2068942SENU">47-15-30</span></a><span xml:space="preserve" class="s2068942SENU">. </span><span class="s2068942CL">Powers of cooperatives--Contracts--Encumbrances.</span></p><p dir="ltr" class="s2068942Normal-000000"><span class="s2068942DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may</span></p><p dir="ltr" class="s2068942Normal-000001"><span class="s2068942DefaultParagraphFont">(1)    Make contracts, incur liabilities, and borrow money;</span></p><p dir="ltr" class="s2068942Normal-000001"><span class="s2068942DefaultParagraphFont">(2)    Issue certificates representing indebtedness, or representing equity interests in its assets;</span></p><p dir="ltr" class="s2068942Normal-000001"><span class="s2068942DefaultParagraphFont">(3)    Acquire property;</span></p><p dir="ltr" class="s2068942Normal-000001"><span class="s2068942DefaultParagraphFont">(4)    Dispose of, mortgage, pledge, lease, or otherwise use in any manner any of its property, or any interest therein, wherever situated.</span></p><p dir="ltr" class="s2068942Normal"><span xml:space="preserve" class="s2068942000002"> </span></p><p dir="ltr" class="s2068942Normal"><span class="s2068942SCL">Source:</span><span xml:space="preserve" class="s2068942SCL-000003"> SDC 1939, § 11.1103 (4) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068943Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068943SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068943CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068943Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068943DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068943000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068943SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068943SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068943Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-31"><span class="s2068943SENU">47-15-31</span></a><span xml:space="preserve" class="s2068943SENU">. </span><span class="s2068943CL">Powers of cooperatives--Securities holdings.</span></p><p dir="ltr" class="s2068943Normal-000000"><span class="s2068943DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may purchase, take, receive, subscribe for, or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of, and otherwise use and deal in and with, shares or other interests in, or obligations of, other domestic or foreign cooperatives and corporations, partnerships or individuals, or direct or indirect obligations of the United States or of any other government, state, territory, governmental district, or municipality or of any instrumentality thereof.</span></p><p dir="ltr" class="s2068943Normal"><span xml:space="preserve" class="s2068943000001"> </span></p><p dir="ltr" class="s2068943Normal"><span class="s2068943SCL">Source:</span><span xml:space="preserve" class="s2068943SCL-000002"> SDC 1939, § 11.1103 (5) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068944Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068944SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068944CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068944Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068944DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068944000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068944SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068944SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068944Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-32"><span class="s2068944SENU">47-15-32</span></a><span xml:space="preserve" class="s2068944SENU">. </span><span class="s2068944CL">Powers of cooperatives--Investments and lending.</span></p><p dir="ltr" class="s2068944Normal-000000"><span class="s2068944DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may invest its funds, lend money for its purposes, and hold any property as security for repayment.</span></p><p dir="ltr" class="s2068944Normal"><span xml:space="preserve" class="s2068944000001"> </span></p><p dir="ltr" class="s2068944Normal"><span class="s2068944SCL">Source:</span><span xml:space="preserve" class="s2068944SCL-000002"> SDC 1939, § 11.1103 (6) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068945Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068945SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068945CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068945Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068945DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068945000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068945SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068945SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068945Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-33"><span class="s2068945SENU">47-15-33</span></a><span xml:space="preserve" class="s2068945SENU">. </span><span class="s2068945CL">Powers of cooperatives--Territorial.</span></p><p dir="ltr" class="s2068945Normal-000000"><span class="s2068945DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may conduct its business and affairs and have offices and exercise its powers in the United States or in any foreign country.</span></p><p dir="ltr" class="s2068945Normal"><span xml:space="preserve" class="s2068945000001"> </span></p><p dir="ltr" class="s2068945Normal"><span class="s2068945SCL">Source:</span><span xml:space="preserve" class="s2068945SCL-000002"> SDC 1939, § 11.1103 (7) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068946Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068946SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068946CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068946Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068946DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068946000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068946SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068946SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068946Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-34"><span class="s2068946SENU">47-15-34</span></a><span xml:space="preserve" class="s2068946SENU">. </span><span class="s2068946CL">Powers of cooperatives--Officers and agents.</span></p><p dir="ltr" class="s2068946Normal-000000"><span class="s2068946DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may elect officers and appoint agents, define their duties, and fix their compensation.</span></p><p dir="ltr" class="s2068946Normal"><span xml:space="preserve" class="s2068946000001"> </span></p><p dir="ltr" class="s2068946Normal"><span class="s2068946SCL">Source:</span><span xml:space="preserve" class="s2068946SCL-000002"> SDC 1939, § 11.1103 (8) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068947Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068947SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068947CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068947Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068947DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068947000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068947SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068947SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068947Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-35"><span class="s2068947SENU">47-15-35</span></a><span xml:space="preserve" class="s2068947SENU">. </span><span class="s2068947CL">Powers of cooperatives--Bylaws.</span></p><p dir="ltr" class="s2068947Normal-000000"><span class="s2068947DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may make and alter bylaws, consistent with its articles and the laws of this state, for the administration and regulation of its affairs.</span></p><p dir="ltr" class="s2068947Normal"><span xml:space="preserve" class="s2068947000001"> </span></p><p dir="ltr" class="s2068947Normal"><span class="s2068947SCL">Source:</span><span xml:space="preserve" class="s2068947SCL-000002"> SDC 1939, § 11.1103 (9) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068948Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068948SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068948CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068948Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068948DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068948000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068948SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068948SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068948Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-36"><span class="s2068948SENU">47-15-36</span></a><span xml:space="preserve" class="s2068948SENU">. </span><span class="s2068948CL">Powers of cooperatives--Donations.</span></p><p dir="ltr" class="s2068948Normal-000000"><span class="s2068948DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may make donations for charitable, scientific, educational, or religious purposes.</span></p><p dir="ltr" class="s2068948Normal"><span xml:space="preserve" class="s2068948000001"> </span></p><p dir="ltr" class="s2068948Normal"><span class="s2068948SCL">Source:</span><span xml:space="preserve" class="s2068948SCL-000002"> SDC 1939, § 11.1103 (10) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068949Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068949SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068949CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068949Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068949DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068949000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068949SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068949SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068949Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-37"><span class="s2068949SENU">47-15-37</span></a><span xml:space="preserve" class="s2068949SENU">. </span><span class="s2068949CL">Powers of cooperatives--Indemnification of agents.</span></p><p dir="ltr" class="s2068949Normal-000000"><span class="s2068949DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may indemnify any present or former director, officer, or agent against actual expenses necessarily incurred in defense of any proceeding in which he is a party because he is or was such director, officer, or agent. This section does not apply to those proceedings in which he is adjudged liable for negligence or misconduct in the performance of duty. Such indemnification shall not be exclusive of other rights to which he may be entitled.</span></p><p dir="ltr" class="s2068949Normal"><span xml:space="preserve" class="s2068949000001"> </span></p><p dir="ltr" class="s2068949Normal"><span class="s2068949SCL">Source:</span><span xml:space="preserve" class="s2068949SCL-000002"> SDC 1939, § 11.1103 (11) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068950Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068950SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068950CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068950Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068950DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068950000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068950SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068950SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068950Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-38"><span class="s2068950SENU">47-15-38</span></a><span xml:space="preserve" class="s2068950SENU">. </span><span class="s2068950CL">Powers of cooperatives--Cessation of activities.</span></p><p dir="ltr" class="s2068950Normal-000000"><span class="s2068950DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may cease its activities and surrender its franchise.</span></p><p dir="ltr" class="s2068950Normal"><span xml:space="preserve" class="s2068950000001"> </span></p><p dir="ltr" class="s2068950Normal"><span class="s2068950SCL">Source:</span><span xml:space="preserve" class="s2068950SCL-000002"> SDC 1939, § 11.1103 (12) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068951Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068951SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068951CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068951Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068951DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068951000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068951SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068951SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068951Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-39"><span class="s2068951SENU">47-15-39</span></a><span xml:space="preserve" class="s2068951SENU">. </span><span class="s2068951CL">Powers of cooperatives--Effectuation of purpose.</span></p><p dir="ltr" class="s2068951Normal-000000"><span class="s2068951DefaultParagraphFont">Unless otherwise provided by its articles, a cooperative may exercise all powers necessary or convenient to effect its purposes.</span></p><p dir="ltr" class="s2068951Normal"><span xml:space="preserve" class="s2068951000001"> </span></p><p dir="ltr" class="s2068951Normal"><span class="s2068951SCL">Source:</span><span xml:space="preserve" class="s2068951SCL-000002"> SDC 1939, § 11.1103 (13) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068952Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068952SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068952CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068952Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068952DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068952DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068952000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068952SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068952SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068952Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-40"><span class="s2068952SENU">47-15-40</span></a><span xml:space="preserve" class="s2068952SENU">. </span><span class="s2068952CL">Promotion expenses--Commissions on stock sales--Limitations.</span></p><p dir="ltr" class="s2068952Normal-000000"><span class="s2068952DefaultParagraphFont">No cooperative funds may be used, nor any stock issued, in payment of any promotion expenses in excess of ten percent of the paid</span><span class="s2068952DefaultParagraphFont-000001">-</span><span class="s2068952DefaultParagraphFont">up capital stock or membership fees. No commission or expenses shall be paid on the sale of stock in excess of ten percent of the par value thereof.</span></p><p dir="ltr" class="s2068952Normal"><span xml:space="preserve" class="s2068952000002"> </span></p><p dir="ltr" class="s2068952Normal"><span class="s2068952SCL">Source:</span><span xml:space="preserve" class="s2068952SCL-000003"> SDC 1939, § 11.1112 as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068953Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068953SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068953CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068953Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068953DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068953000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068953SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068953SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068953Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-41"><span class="s2068953SENU">47-15-41</span></a><span xml:space="preserve" class="s2068953SENU">. </span><span class="s2068953CL">Use of term "cooperative".</span></p><p dir="ltr" class="s2068953Normal-000000"><span class="s2068953DefaultParagraphFont">The term "cooperative" or any variation thereof, may be used either by any cooperative organized under this chapter or under other laws of this state relating to cooperative corporations, or by any foreign cooperative licensed to do business in this state or by any association of cooperatives, or corporations, whose members are cooperatives.</span></p><p dir="ltr" class="s2068953Normal"><span xml:space="preserve" class="s2068953000001"> </span></p><p dir="ltr" class="s2068953Normal"><span class="s2068953SCL">Source:</span><span xml:space="preserve" class="s2068953SCL-000002"> SDC 1939, § 11.1155 (1) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068954Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068954SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068954CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068954Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068954DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068954000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068954SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068954SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068954Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-42"><span class="s2068954SENU">47-15-42</span></a><span xml:space="preserve" class="s2068954SENU">. </span><span class="s2068954CL">Unauthorized use of term "cooperative" as petty offense.</span></p><p dir="ltr" class="s2068954Normal-000000"><span xml:space="preserve" class="s2068954DefaultParagraphFont">No person other than a cooperative described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-41"><span class="s2068954DefaultParagraphFont">47-15-41</span></a><span xml:space="preserve" class="s2068954DefaultParagraphFont"> may use the term "cooperative," or any variation thereof, as part of his corporate or other business name or title. No person may in any other manner represent himself to be a cooperative. A violation of this section is a petty offense. Each day of improper use constitutes a separate offense.</span></p><p dir="ltr" class="s2068954Normal"><span xml:space="preserve" class="s2068954000001"> </span></p><p dir="ltr" class="s2068954Normal"><span class="s2068954SCL">Source:</span><span xml:space="preserve" class="s2068954SCL-000002"> SDC 1939, § 11.1155 (2) as enacted by SL 1965, ch 23, § 1; SL 1983, ch 15, § 37.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068955Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068955SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068955CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068955Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068955DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068955000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068955SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068955SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068955Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-43"><span class="s2068955SENU">47-15-43</span></a><span xml:space="preserve" class="s2068955SENU">. </span><span class="s2068955CL">Injunction against unauthorized use of term "cooperative".</span></p><p dir="ltr" class="s2068955Normal-000000"><span xml:space="preserve" class="s2068955DefaultParagraphFont">Any cooperative may obtain an injunction against acts prohibited by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-42"><span class="s2068955DefaultParagraphFont">47-15-42</span></a><span xml:space="preserve" class="s2068955DefaultParagraphFont"> without showing any damage to itself.</span></p><p dir="ltr" class="s2068955Normal"><span xml:space="preserve" class="s2068955000001"> </span></p><p dir="ltr" class="s2068955Normal"><span class="s2068955SCL">Source:</span><span xml:space="preserve" class="s2068955SCL-000002"> SDC 1939, § 11.1155 (3) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068956Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068956SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068956CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068956Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068956DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068956000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068956SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068956SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068956Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-44"><span class="s2068956SENU">47-15-44</span></a><span xml:space="preserve" class="s2068956SENU">. </span><span class="s2068956CL">Cooperatives governed by chapter--Preexisting cooperatives.</span></p><p dir="ltr" class="s2068956Normal-000000"><span xml:space="preserve" class="s2068956DefaultParagraphFont">All foreign and domestic cooperatives are governed by the provisions of chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15"><span class="s2068956DefaultParagraphFont">47-15</span></a><span xml:space="preserve" class="s2068956DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20"><span class="s2068956DefaultParagraphFont">47-20</span></a><span class="s2068956DefaultParagraphFont">, inclusive, except that application of said chapters to cooperative corporations existing before March 18, 1965, does not affect property rights of stockholders or members in such cooperatives which were accrued or established on March 18, 1965, nor does it affect any liability enforceable at such time, nor does it affect the validity or enforceability of contracts existing before March 18, 1965.</span></p><p dir="ltr" class="s2068956Normal"><span xml:space="preserve" class="s2068956000001"> </span></p><p dir="ltr" class="s2068956Normal"><span class="s2068956SCL">Source:</span><span xml:space="preserve" class="s2068956SCL-000002"> SDC 1939, § 11.1156 as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068957Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068957SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068957CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068957Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068957DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068957000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068957SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068957SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068957Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-45"><span class="s2068957SENU">47-15-45</span></a><span xml:space="preserve" class="s2068957SENU">. </span><span class="s2068957CL">Continuation of preexisting cooperatives.</span></p><p dir="ltr" class="s2068957Normal-000000"><span class="s2068957DefaultParagraphFont">Corporations organized before July 1, 1965, under the provisions of chapters 4.16 and 11.10 of the South Dakota Code of 1939 shall continue in existence, but no new corporations may be formed thereunder.</span></p><p dir="ltr" class="s2068957Normal"><span xml:space="preserve" class="s2068957000001"> </span></p><p dir="ltr" class="s2068957Normal"><span class="s2068957SCL">Source:</span><span xml:space="preserve" class="s2068957SCL-000002"> SL 1965, ch 23, § 2; SL 1966, ch 16, § 5.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068958Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068958SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068958CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068958Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068958DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068958000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068958SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068958SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068958Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-46"><span class="s2068958SENU">47-15-46</span></a><span xml:space="preserve" class="s2068958SENU">. </span><span class="s2068958CL">Duration of existence of preexisting cooperatives.</span></p><p dir="ltr" class="s2068958Normal-000000"><span class="s2068958DefaultParagraphFont">Cooperatives organized prior to July 1, 1965 under the provisions of chapter 4.16 or 11.10 or 11.11 of the South Dakota Code of 1939 or amendments thereof are granted perpetual existence irrespective of the period of existence set forth in the articles of incorporation. Any such cooperative may nevertheless amend its articles to provide for a limited period of existence.</span></p><p dir="ltr" class="s2068958Normal"><span xml:space="preserve" class="s2068958000001"> </span></p><p dir="ltr" class="s2068958Normal"><span class="s2068958SCL">Source:</span><span xml:space="preserve" class="s2068958SCL-000002"> SDC 1939, § 11.1105 (2) as enacted by SL 1965, ch 23, § 1; SL 1966, ch 16, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068959Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068959SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068959CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068959Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068959DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068959Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068959000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068959SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068959SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068959Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-47"><span class="s2068959SENU">47-15-47</span></a><span xml:space="preserve" class="s2068959SENU">. </span><span class="s2068959CL">Method of giving notice--Waiver of notice.</span></p><p dir="ltr" class="s2068959Normal-000000"><span xml:space="preserve" class="s2068959DefaultParagraphFont">If notice is required by chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15"><span class="s2068959DefaultParagraphFont">47-15</span></a><span xml:space="preserve" class="s2068959DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20"><span class="s2068959DefaultParagraphFont">47-20</span></a><span class="s2068959DefaultParagraphFont">, inclusive, to be given to any person, the notice shall be given either personally, by mail, or electronic transmission. If mailed, the notice is given when deposited in the United States mail, with postage prepaid, addressed to the person's address as it appears on the records of the cooperative. If electronically transmitted, the notice is given when sent.</span></p><p dir="ltr" class="s2068959Normal-000001"><span class="s2068959DefaultParagraphFont">A signed waiver is equivalent to personal notice to the person so signing.</span></p><p dir="ltr" class="s2068959Normal"><span xml:space="preserve" class="s2068959000002"> </span></p><p dir="ltr" class="s2068959Normal"><span class="s2068959SCL">Source:</span><span xml:space="preserve" class="s2068959SCL-000003"> SDC 1939, § 11.1117 as enacted by SL 1965, ch 23, § 1; SL 2018, ch 260, § 3.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068960Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068960SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068960CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068960Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068960DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068960000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068960SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068960SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068960Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-48"><span class="s2068960SENU">47-15-48</span></a><span xml:space="preserve" class="s2068960SENU">. </span><span class="s2068960CL">Cooperatives governed by other laws.</span></p><p dir="ltr" class="s2068960Normal-000000"><span xml:space="preserve" class="s2068960DefaultParagraphFont">The provisions of chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15"><span class="s2068960DefaultParagraphFont">47-15</span></a><span xml:space="preserve" class="s2068960DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20"><span class="s2068960DefaultParagraphFont">47-20</span></a><span xml:space="preserve" class="s2068960DefaultParagraphFont">, inclusive, shall not apply to cooperatives governed by chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=40-23"><span class="s2068960DefaultParagraphFont">40-23</span></a><span xml:space="preserve" class="s2068960DefaultParagraphFont"> or chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-21"><span class="s2068960DefaultParagraphFont">47-21</span></a><span class="s2068960DefaultParagraphFont">.</span></p><p dir="ltr" class="s2068960Normal"><span xml:space="preserve" class="s2068960000001"> </span></p><p dir="ltr" class="s2068960Normal"><span class="s2068960SCL">Source:</span><span xml:space="preserve" class="s2068960SCL-000002"> SDC 1939, § 11.1156 as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068961Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068961SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068961CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068961Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068961DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068961000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068961SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068961SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068961Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-49"><span class="s2068961SENU">47-15-49</span></a><span xml:space="preserve" class="s2068961SENU">. </span><span class="s2068961CL">Severability and saving clause.</span></p><p dir="ltr" class="s2068961Normal-000000"><span xml:space="preserve" class="s2068961DefaultParagraphFont">If any provision of chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15"><span class="s2068961DefaultParagraphFont">47-15</span></a><span xml:space="preserve" class="s2068961DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20"><span class="s2068961DefaultParagraphFont">47-20</span></a><span class="s2068961DefaultParagraphFont">, inclusive, or the application thereof to any person or circumstance is held invalid, the remainder of said chapters and the application of such provision to other persons or circumstances shall not be held invalid.</span></p><p dir="ltr" class="s2068961Normal"><span xml:space="preserve" class="s2068961000001"> </span></p><p dir="ltr" class="s2068961Normal"><span class="s2068961SCL">Source:</span><span xml:space="preserve" class="s2068961SCL-000002"> SL 1965, ch 23, § 3.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068962Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068962SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068962CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068962Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068962DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068962000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068962SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068962SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068962Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-50"><span class="s2068962SENU">47-15-50</span></a><span xml:space="preserve" class="s2068962SENU">. </span><span class="s2068962CL">Citation of cooperative provisions.</span></p><p dir="ltr" class="s2068962Normal-000000"><span xml:space="preserve" class="s2068962DefaultParagraphFont">Chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15"><span class="s2068962DefaultParagraphFont">47-15</span></a><span xml:space="preserve" class="s2068962DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20"><span class="s2068962DefaultParagraphFont">47-20</span></a><span class="s2068962DefaultParagraphFont">, inclusive, as amended from time to time may be cited as the "South Dakota Cooperative Association Act."</span></p><p dir="ltr" class="s2068962Normal"><span xml:space="preserve" class="s2068962000001"> </span></p><p dir="ltr" class="s2068962Normal"><span class="s2068962SCL">Source:</span><span xml:space="preserve" class="s2068962SCL-000002"> SDC 1939, § 11.1157 as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-15 - COOPERATIVES--FORMATION AND GENERAL POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068963Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068963SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068963CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068963Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068963DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068963000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068963SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068963SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2068963Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15-51"><span class="s2068963SENU">47-15-51</span></a><span xml:space="preserve" class="s2068963SENU">. </span><span class="s2068963CL">Filing false document as felony.</span></p><p dir="ltr" class="s2068963Normal-000000"><span class="s2068963DefaultParagraphFont">A person who files, or causes to be filed, a document required to be filed by this chapter, which he knows to be materially false in any respect, is guilty of a Class 6 felony.</span></p><p dir="ltr" class="s2068963Normal"><span xml:space="preserve" class="s2068963000001"> </span></p><p dir="ltr" class="s2068963Normal"><span class="s2068963SCL">Source:</span><span xml:space="preserve" class="s2068963SCL-000002"> SL 1983, ch 15, § 36.</span></p></div></body></html>