<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 47-26-16 - Involuntary dissolution by court decree--Action by attorney general--Grounds of action. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2069420Normal { 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.s2069420SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069420CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2069420Normal-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.s2069420DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2069420Normal-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.s2069420000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2069420SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069420SCL-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="s2069420Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-26-16"><span class="s2069420SENU">47-26-16</span></a><span xml:space="preserve" class="s2069420SENU">. </span><span class="s2069420CL">Involuntary dissolution by court decree--Action by attorney general--Grounds of action.</span></p><p dir="ltr" class="s2069420Normal-000000"><span xml:space="preserve" class="s2069420DefaultParagraphFont">The provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-24-13.1"><span class="s2069420DefaultParagraphFont">47-24-13.1</span></a><span xml:space="preserve" class="s2069420DefaultParagraphFont"> notwithstanding, a corporation may be dissolved involuntarily by a decree of the circuit court in an action filed by the attorney general if it is established that:</span></p><p dir="ltr" class="s2069420Normal-000001"><span class="s2069420DefaultParagraphFont">(1)    The corporation procured its articles of incorporation through fraud; or</span></p><p dir="ltr" class="s2069420Normal-000001"><span class="s2069420DefaultParagraphFont">(2)    The corporation has continued to exceed or abuse the authority conferred upon it by law.</span></p><p dir="ltr" class="s2069420Normal"><span xml:space="preserve" class="s2069420000002"> </span></p><p dir="ltr" class="s2069420Normal"><span class="s2069420SCL">Source:</span><span xml:space="preserve" class="s2069420SCL-000003"> SL 1965, ch 24, § 53; SL 1967, ch 14, § 1; SL 1989, ch 393, § 31.</span></p></div></body></html>