49-30-20. Subscriptions for capital stock.When the certificate of corporate existence is issued, the directors may, in case the whole of the capital stock shall not have been before subscribed, open books of subscription to fill up the capital stock at such time and after giving such notice as they may deem expedient, and may from time to time receive subscriptions until the capital stock is subscribed. Source: SDC 1939, §52.1304.
South Dakota Legal Code