<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 47-1A-1602 - Shareholder right to inspect and copy records specified in § 47-1A-1601.1. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068433Normal { 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.s2068433SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068433CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068433Normal-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.s2068433DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068433000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068433SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068433SCL-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="s2068433Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602"><span class="s2068433SENU">47-1A-1602</span></a><span xml:space="preserve" class="s2068433SENU">. </span><span xml:space="preserve" class="s2068433CL">Shareholder right to inspect and copy records specified in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1601.1"><span class="s2068433CL">47-1A-1601.1</span></a><span class="s2068433CL">.</span></p><p dir="ltr" class="s2068433Normal-000000"><span xml:space="preserve" class="s2068433DefaultParagraphFont">A shareholder of a corporation is entitled to inspect and copy, during regular business hours at the corporation's principal office, any of the records of the corporation described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1601.1"><span class="s2068433DefaultParagraphFont">47-1A-1601.1</span></a><span xml:space="preserve" class="s2068433DefaultParagraphFont"> if the shareholder gives the corporation written notice of that demand at least five business days before the date on which the shareholder wishes to inspect and copy.</span></p><p dir="ltr" class="s2068433Normal"><span xml:space="preserve" class="s2068433000001"> </span></p><p dir="ltr" class="s2068433Normal"><span class="s2068433SCL">Source:</span><span xml:space="preserve" class="s2068433SCL-000002"> SL 2005, ch 239, § 373.</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 47-1A-1602 - Shareholder right to inspect and copy records specified in § 47-1A-1601.1. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068434Normal { 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.s2068434SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068434CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068434Normal-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.s2068434DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068434Normal-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.s2068434000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068434SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068434SCL-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="s2068434Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602.1"><span class="s2068434SENU">47-1A-1602.1</span></a><span xml:space="preserve" class="s2068434SENU">. </span><span xml:space="preserve" class="s2068434CL">Shareholder right to inspect and copy specified records--Prerequisites in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602.2"><span class="s2068434CL">47-1A-1602.2</span></a><span class="s2068434CL">.</span></p><p dir="ltr" class="s2068434Normal-000000"><span xml:space="preserve" class="s2068434DefaultParagraphFont">A shareholder of a corporation is entitled to inspect and copy, during regular business hours at a reasonable location specified by the corporation, any of the following records of the corporation if the shareholder meets the requirements of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602.2"><span class="s2068434DefaultParagraphFont">47-1A-1602.2</span></a><span xml:space="preserve" class="s2068434DefaultParagraphFont"> and gives the corporation written notice of that demand at least five business days before the date on which the shareholder wishes to inspect and copy:</span></p><p dir="ltr" class="s2068434Normal-000001"><span xml:space="preserve" class="s2068434DefaultParagraphFont">(1)    Excerpts from minutes of any meeting of the board of directors, records of any action of a committee of the board of directors while acting in place of the board of directors on behalf of the corporation, minutes of any meeting of the shareholders, and records of action taken by the shareholders or board of directors without a meeting, to the extent not subject to inspection under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602"><span class="s2068434DefaultParagraphFont">47-1A-1602</span></a><span class="s2068434DefaultParagraphFont">;</span></p><p dir="ltr" class="s2068434Normal-000001"><span class="s2068434DefaultParagraphFont">(2)    Accounting records of the corporation; and</span></p><p dir="ltr" class="s2068434Normal-000001"><span class="s2068434DefaultParagraphFont">(3)    The record of shareholders.</span></p><p dir="ltr" class="s2068434Normal"><span xml:space="preserve" class="s2068434000002"> </span></p><p dir="ltr" class="s2068434Normal"><span class="s2068434SCL">Source:</span><span xml:space="preserve" class="s2068434SCL-000003"> SL 2005, ch 239, § 374.</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 47-1A-1602 - Shareholder right to inspect and copy records specified in § 47-1A-1601.1. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068435Normal { 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.s2068435SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068435CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068435Normal-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.s2068435DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068435Normal-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.s2068435000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068435SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068435SCL-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="s2068435Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602.2"><span class="s2068435SENU">47-1A-1602.2</span></a><span xml:space="preserve" class="s2068435SENU">. </span><span xml:space="preserve" class="s2068435CL">Prerequisites to shareholder right to inspect and copy records specified in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602.1"><span class="s2068435CL">47-1A-1602.1</span></a><span class="s2068435CL">.</span></p><p dir="ltr" class="s2068435Normal-000000"><span xml:space="preserve" class="s2068435DefaultParagraphFont">A shareholder may inspect and copy the records described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602.1"><span class="s2068435DefaultParagraphFont">47-1A-1602.1</span></a><span xml:space="preserve" class="s2068435DefaultParagraphFont"> only if:</span></p><p dir="ltr" class="s2068435Normal-000001"><span class="s2068435DefaultParagraphFont">(1)    Demand is made in good faith and for a proper purpose;</span></p><p dir="ltr" class="s2068435Normal-000001"><span class="s2068435DefaultParagraphFont">(2)    The shareholder describes with reasonable particularity the purpose and the records the shareholder desires to inspect; and</span></p><p dir="ltr" class="s2068435Normal-000001"><span class="s2068435DefaultParagraphFont">(3)    The records are directly connected with the purpose.</span></p><p dir="ltr" class="s2068435Normal"><span xml:space="preserve" class="s2068435000002"> </span></p><p dir="ltr" class="s2068435Normal"><span class="s2068435SCL">Source:</span><span xml:space="preserve" class="s2068435SCL-000003"> SL 2005, ch 239, § 375.</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 47-1A-1602 - Shareholder right to inspect and copy records specified in § 47-1A-1601.1. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068436Normal { 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.s2068436SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068436CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068436Normal-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.s2068436DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068436Normal-000001 { text-indent: 0.25in; 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; } p.s2068436Normal-000002 { 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.s2068436000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068436SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068436SCL-000004 { 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="s2068436Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602.3"><span class="s2068436SENU">47-1A-1602.3</span></a><span xml:space="preserve" class="s2068436SENU">. </span><span class="s2068436CL">Abolition or limitation of right of inspection prohibited--Application.</span></p><p dir="ltr" class="s2068436Normal-000000"><span xml:space="preserve" class="s2068436DefaultParagraphFont">The right of inspection granted by §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602"><span class="s2068436DefaultParagraphFont">47-1A-1602</span></a><span xml:space="preserve" class="s2068436DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602.2"><span class="s2068436DefaultParagraphFont">47-1A-1602.2</span></a><span class="s2068436DefaultParagraphFont">, inclusive, may not be abolished or limited by a corporation's articles of incorporation or bylaws.</span></p><p dir="ltr" class="s2068436Normal-000001"><span class="s2068436DefaultParagraphFont">The provisions of this section do not affect:</span></p><p dir="ltr" class="s2068436Normal-000002"><span xml:space="preserve" class="s2068436DefaultParagraphFont">(1)    The right of a shareholder to inspect records under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-720"><span class="s2068436DefaultParagraphFont">47-1A-720</span></a><span xml:space="preserve" class="s2068436DefaultParagraphFont"> or, if the shareholder is in litigation with the corporation, to the same extent as any other litigant;</span></p><p dir="ltr" class="s2068436Normal-000002"><span class="s2068436DefaultParagraphFont">(2)    The power of a court, independently of this chapter, to compel the production of corporate records for examination.</span></p><p dir="ltr" class="s2068436Normal-000001"><span xml:space="preserve" class="s2068436DefaultParagraphFont">For purposes of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602"><span class="s2068436DefaultParagraphFont">47-1A-1602</span></a><span xml:space="preserve" class="s2068436DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-1602.3"><span class="s2068436DefaultParagraphFont">47-1A-1602.3</span></a><span class="s2068436DefaultParagraphFont">, inclusive, the term, shareholder, includes a beneficial owner whose shares are held in a voting trust or by a nominee on his behalf.</span></p><p dir="ltr" class="s2068436Normal"><span xml:space="preserve" class="s2068436000003"> </span></p><p dir="ltr" class="s2068436Normal"><span class="s2068436SCL">Source:</span><span xml:space="preserve" class="s2068436SCL-000004"> SL 2005, ch 239, § 376.</span></p></div></body></html>