47-15-46. Duration of existence of preexisting cooperatives.Cooperatives organized prior to July 1, 1965 under the provisions of chapter 4.16 or 11.10 or 11.11 of the South Dakota Code of 1939 or amendments thereof are granted perpetual existence irrespective of the period of existence set forth in the articles of incorporation. Any such cooperative may nevertheless amend its articles to provide for a limited period of existence. Source: SDC 1939, §11.1105 (2) as enacted by SL 1965, ch 23, §1; SL 1966, ch 16, §1.
South Dakota Legal Code