<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 47-16-55 - Procedure for forfeiture--Resolution--Time limit for claim. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2069019Normal { 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.s2069019SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069019CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2069019Normal-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.s2069019DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2069019000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2069019SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069019SCL-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="s2069019Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-16-55"><span class="s2069019SENU">47-16-55</span></a><span xml:space="preserve" class="s2069019SENU">. </span><span class="s2069019CL">Procedure for forfeiture--Resolution--Time limit for claim.</span></p><p dir="ltr" class="s2069019Normal-000000"><span xml:space="preserve" class="s2069019DefaultParagraphFont">A motion or resolution may be passed or adopted by the board of directors of a cooperative declaring the forfeiture of any money or property described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-16-54"><span class="s2069019DefaultParagraphFont">47-16-54</span></a><span xml:space="preserve" class="s2069019DefaultParagraphFont"> unless the same is claimed by the person or persons entitled thereto within six months after notice of such forfeiture is given.</span></p><p dir="ltr" class="s2069019Normal"><span xml:space="preserve" class="s2069019000001"> </span></p><p dir="ltr" class="s2069019Normal"><span class="s2069019SCL">Source:</span><span xml:space="preserve" class="s2069019SCL-000002"> SDC 1939, § 11.1132 (1) as enacted by SL 1965, ch 23, § 1.</span></p></div></body></html>