Section 49-33-15 - Director as stockholder--Minimum stock ownership

49-33-15. Director as stockholder--Minimum stock ownership.No person shall be a director of a corporation organized under this chapter unless he is a stockholder thereof owning absolutely in his own right, or as trustee or personal representative, at least ten shares of the capital stock of such corporation and must be duly qualified to vote such stock at the election at which he shall be chosen. Source: SDC 1939, §52.1504.