<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 47-18-15 - Involuntary dissolution--Action by attorney general--Grounds for involuntary dissolution. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2069068Normal { 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.s2069068SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069068CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2069068Normal-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.s2069068DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2069068Normal-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.s2069068000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2069068SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069068SCL-000003 { 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="s2069068Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-18-15"><span class="s2069068SENU">47-18-15</span></a><span xml:space="preserve" class="s2069068SENU">. </span><span class="s2069068CL">Involuntary dissolution--Action by attorney general--Grounds for involuntary dissolution.</span></p><p dir="ltr" class="s2069068Normal-000000"><span class="s2069068DefaultParagraphFont">A cooperative may be dissolved involuntarily by a decree of the circuit court where the principal office or registered agent is located in an action commenced by the attorney general when it is established that:</span></p><p dir="ltr" class="s2069068Normal-000001"><span class="s2069068DefaultParagraphFont">(1)    The cooperative's certificate of incorporation was procured through fraud; or</span></p><p dir="ltr" class="s2069068Normal-000001"><span xml:space="preserve" class="s2069068DefaultParagraphFont">(2)    The cooperative has continued to exceed or abuse the authority conferred upon it by chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-15"><span class="s2069068DefaultParagraphFont">47-15</span></a><span xml:space="preserve" class="s2069068DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20"><span class="s2069068DefaultParagraphFont">47-20</span></a><span class="s2069068DefaultParagraphFont">, inclusive; or</span></p><p dir="ltr" class="s2069068Normal-000001"><span xml:space="preserve" class="s2069068DefaultParagraphFont">(3)    The cooperative failed to comply with a court order for the production of books, records, or other documents of the cooperative as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-20-3"><span class="s2069068DefaultParagraphFont">47-20-3</span></a><span class="s2069068DefaultParagraphFont">.</span></p><p dir="ltr" class="s2069068Normal"><span xml:space="preserve" class="s2069068000002"> </span></p><p dir="ltr" class="s2069068Normal"><span class="s2069068SCL">Source:</span><span xml:space="preserve" class="s2069068SCL-000003"> SDC 1939, § 11.1144 (1) as enacted by SL 1965, ch 23, § 1; SL 1989, ch 390, § 5.</span></p></div></body></html>