<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-954 - Surrender of charter upon conversion. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068291Normal { 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.s2068291SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068291CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068291Normal-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.s2068291DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068291Normal-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; } p.s2068291Normal-000002 { 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; } span.s2068291000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068291SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068291SCL-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="s2068291Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-954"><span class="s2068291SENU">47-1A-954</span></a><span xml:space="preserve" class="s2068291SENU">. </span><span class="s2068291CL">Surrender of charter upon conversion.</span></p><p dir="ltr" class="s2068291Normal-000000"><span xml:space="preserve" class="s2068291DefaultParagraphFont">Whenever a domestic business corporation has adopted and approved, in the manner required by §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-950"><span class="s2068291DefaultParagraphFont">47-1A-950</span></a><span xml:space="preserve" class="s2068291DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-956"><span class="s2068291DefaultParagraphFont">47-1A-956</span></a><span class="s2068291DefaultParagraphFont">, inclusive, a plan of entity conversion providing for the corporation to be converted to a foreign unincorporated entity, articles of charter surrender shall be executed on behalf of the corporation by any officer or other duly authorized representative. The articles of charter surrender shall set forth:</span></p><p dir="ltr" class="s2068291Normal-000001"><span class="s2068291DefaultParagraphFont">(1)    The name of the corporation;</span></p><p dir="ltr" class="s2068291Normal-000001"><span class="s2068291DefaultParagraphFont">(2)    A statement that the articles of charter surrender are being filed in connection with the conversion of the corporation to a foreign unincorporated entity;</span></p><p dir="ltr" class="s2068291Normal-000001"><span class="s2068291DefaultParagraphFont">(3)    A statement that the conversion was duly approved by the shareholders in the manner required by this chapter and the articles of incorporation;</span></p><p dir="ltr" class="s2068291Normal-000001"><span class="s2068291DefaultParagraphFont">(4)    The jurisdiction under the laws of which the surviving entity will be organized;</span></p><p dir="ltr" class="s2068291Normal-000001"><span class="s2068291DefaultParagraphFont">(5)    If the surviving entity will be a nonfiling entity, the address of its executive office immediately after the conversion.</span></p><p dir="ltr" class="s2068291Normal-000002"><span xml:space="preserve" class="s2068291DefaultParagraphFont">The articles of charter surrender shall be delivered by the corporation to the Office of the Secretary of State for filing. The articles of charter surrender shall take effect on the effective time provided in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-123"><span class="s2068291DefaultParagraphFont">47-1A-123</span></a><span xml:space="preserve" class="s2068291DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-1A-123.1"><span class="s2068291DefaultParagraphFont">47-1A-123.1</span></a><span class="s2068291DefaultParagraphFont">.</span></p><p dir="ltr" class="s2068291Normal"><span xml:space="preserve" class="s2068291000003"> </span></p><p dir="ltr" class="s2068291Normal"><span class="s2068291SCL">Source:</span><span xml:space="preserve" class="s2068291SCL-000004"> SL 2005, ch 239, § 229.</span></p></div></body></html>