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51 chapters · 1,546 sections in this title.
SDCL § 47-1A-1405 Effect of dissolution
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A dissolved corporation continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including: (1) Collecting its assets; (2) Disposing of its properties that will not be distributed in kind to its…
SDCL § 47-1A-1405.1 Limitations on effect of dissolution
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Dissolution of a corporation does not: (1) Transfer title to the corporation's property; (2) Prevent transfer of its shares or securities, although the authorization to dissolve may provide for closing the corporation's share transfer records; (3) Subject its directors or officer…
SDCL § 47-1A-1406 Known claims against dissolved corporation
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A dissolved corporation may dispose of the known claims against it by notifying its known claimants in writing of the dissolution at any time after its effective date. The written notice must: (1) Describe information that must be included in a claim; (2) Provide a mailing addres…
SDCL § 47-1A-1406.1 Bar on known claims against dissolved corporation
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A claim against the dissolved corporation is barred: (1) If a claimant who was given written notice under § 47-1A-1406 does not deliver the claim to the dissolved corporation by the deadline; or (2) If a claimant whose claim was rejected by the dissolved corporation does not comm…
