Source: http://www.lawserver.com/print/17899086:south_dakota_laws_title_47_chapter_22
Timestamp: 2013-05-19 13:29:21
Document Index: 229646295

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South Dakota Laws > Title 47 > Chapter 22 - Nonprofit Corporations--Formation And General Powers	South Dakota Laws > Title 47 > Chapter 22 - Nonprofit Corporations--Formation And General PowersCurrent as of: 2010Check for updates§ 47-22-1Definitions§ 47-22-2Applicability to domestic corporations§ 47-22-2.1Applicability to corporations existing prior to 1965§ 47-22-3Applicability to foreign corporations§ 47-22-4Purposes and authority of corporations--Particular purposes--Exceptions§ 47-22-5Incorporators--Articles of incorporation§ 47-22-6Contents of articles of incorporation--Necessary recitals§ 47-22-7Corporate name--Indication of purpose§ 47-22-8.1Use of same or similar name prohibited--Non-English name to be transliterated§ 47-22-9Reservation of name--Parties entitled to reserve§ 47-22-10Procedure for reservation of name--Maximum time of reservation§ 47-22-11Transfer of reserved right--Notification to secretary of state§ 47-22-12Articles of incorporation--Endorsement and filing by secretary of state--Issuance of certificate of incorporation§ 47-22-13Commencement of corporate existence--Certificate as conclusive evidence of compliance--Exceptions§ 47-22-14Amending articles of incorporation§ 47-22-15Procedure for amendment§ 47-22-16Resolution of amendment--Submission to members at meeting--Notice of meeting--Contents of notice--Written notice of adoption required--Majority vote required§ 47-22-17Procedure in absence of members entitled to vote--Adoption of amendment by board of directors§ 47-22-18Submission of more than one amendment§ 47-22-19Articles of amendment--Contents of articles§ 47-22-20Delivery to secretary of state--Fees--Endorsement and filing--Issuance of certificate of amendment§ 47-22-21Effective date of amendment§ 47-22-22Preexisting actions unaffected--Change of name as not abating action§ 47-22-23Restatement of articles of incorporation--Procedure§ 47-22-24Resolution of restatement--Submission to members§ 47-22-25Notice of proposed restatement--Contents of notice§ 47-22-26Vote of membership--Majority vote required§ 47-22-27Procedure in absence of members entitled to vote--Adoption of restatement by board of directors§ 47-22-28Approval of restated articles--Contents of articles--Delivery to secretary of state§ 47-22-28.1Restated articles may incorporate proposed amendments--Conditions§ 47-22-29Approval by secretary of state--Fees--Endorsement and filing--Issuance of restated certificate of incorporation§ 47-22-30Effective date of restated articles§ 47-22-31Meeting of first board of directors--Organization meeting--Notice of meeting§ 47-22-32First meeting of members--Notice of meeting§ 47-22-33Adoption of initial bylaws--Amendment of bylaws--Permissible contents of bylaws§ 47-22-34Changing number of board of directors--Bylaws controlling absent provision in articles§ 47-22-35Emergency bylaws--Conditions creating emergency§ 47-22-36Provisions of emergency bylaws--Meetings of directors--Attendance--Priorities§ 47-22-37Modification of lines of succession during emergency§ 47-22-38Changing head office during emergency§ 47-22-39Duration of emergency bylaws§ 47-22-40Notice of meetings during emergency--Quorum§ 47-22-41Liability for actions during emergency--Willful misconduct§ 47-22-52Powers of corporation--Perpetual succession§ 47-22-53Powers of corporation--Capacity to sue and be sued§ 47-22-54Powers of corporation--Corporate seal§ 47-22-55Powers of corporation--Dealing in real or personal property§ 47-22-56Powers of corporation--Disposal of corporate assets§ 47-22-57Powers of corporation--Lending money§ 47-22-58Powers of corporation--Securities holdings--Government obligations§ 47-22-59Powers of corporation--Contracting--Borrowing--Issuance of securities§ 47-22-60Powers of corporation--Lending--Investing--Property holding§ 47-22-61Powers of corporation--Extraterritorial operations§ 47-22-62Powers of corporation--Officers and agents§ 47-22-63Powers of corporation--Adoption of bylaws§ 47-22-64Powers of corporation--Donations--Wartime donations§ 47-22-65.1Powers of corporation--Indemnification--Defense of actions§ 47-22-65.2Indemnification against expenses and attorneys' fees§ 47-22-65.3Authorization of indemnification--Requirements--Manner of determination§ 47-22-65.4Authorization of payment of expenses prior to final disposition of action--Receipt of undertaking--Terms and conditions§ 47-22-65.5Indemnification not exclusive of other rights--Continuation of benefits to former employees--Benefits to deceased employees§ 47-22-65.6Powers of corporation--Purchase and maintenance of liability insurance§ 47-22-65.7Corporation defined§ 47-22-65.8Definition of other terms§ 47-22-66Powers of corporation--Pension plans§ 47-22-67Powers of corporation--Cessation of activities§ 47-22-68Powers of corporation--Other powers§ 47-22-68.1Restrictions on private foundations--Definition of terms§ 47-22-68.2Restrictive provisions as to income and property deemed incorporated in foundation charter§ 47-22-68.3Self-dealing by foundation prohibited§ 47-22-68.4Distributions required of foundation§ 47-22-68.5Excess business holdings prohibited to foundation§ 47-22-68.6Investments which jeopardize charitable purpose prohibited to foundation§ 47-22-68.7Taxable expenditures prohibited to foundation§ 47-22-68.8Judicial determination that required restrictions would be contrary to charter§ 47-22-68.9State powers over corporation unimpaired§ 47-22-69Ultra vires unavailable to invalidate transfers of property§ 47-22-70Circumstances under which ultra vires may be asserted--Actions by members or directors--Injunctions§ 47-22-71Circumstances under which ultra vires may be asserted--Actions by corporation against officers or directors§ 47-22-72Circumstances under which ultra vires may be asserted--Actions by attorney general to dissolve or enjoin corporation§ 47-22-73Unauthorized acting as corporation--Liability§ 47-22-74Legislative power to prescribe additional regulations§ 47-22-75Prior incorporations validated--Previously pending actions§ 47-22-76Rights vested under prior statutes unaffected§ 47-22-77Severability and saving clause§ 47-22-78Citation of nonprofit corporation law________________________________________________________________________