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§ 47-1a-1405-1 — South Dakota Law | CourtGPT
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South Dakota Legal Code

§ 47-1a-1405-1

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47-1A-1405.1. Limitations on effect of dissolution.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 officers to standards of conduct different from those prescribed in §§47-1A-801 to 47-1A-863.3, inclusive;(4)Change quorum or voting requirements for its board of directors or shareholders; change provisions for selection, resignation, or removal of its directors or officers or both; or change provisions for amending its bylaws;(5)Prevent commencement of a proceeding by or against the corporation in its corporate name;(6)Abate or suspend a proceeding pending by or against the corporation on the effective date of dissolution; or(7)Terminate the authority of the registered agent of the corporation. Source: SL 2005, ch 239, §317.