Stockholders of a cooperative as such have no preemptive right to purchase additional stock. Source: SDC 1939, § 11.1118 (5) as enacted by SL 1965, ch 23 , § 1.
Stockholders' preemptive rights
SDCL § 47-16-26 — under COOPERATIVES--MEMBERSHIP, STOCK AND DISTRIBUTIONS.
SDCL § 47-16-26