47-11A-6. Disposition of shares when shareholder no longer eligible.Provisions shall be made requiring any shareholder of a corporation formed under §47-11A-1 who ceases to be eligible to be a shareholder to dispose of all his shares forthwith either to the corporation or to any person having the qualifications prescribed in §47-11A-5. Source: SL 1970, ch 258, §1 (5).
South Dakota Legal Code