S.D. Codified Laws § 47-21-41

Current through the 2024 Legislative Session

Section 47-21-41 - Articles of dissolution-Contents of articles

The board of directors shall, upon completion of the acts required by § 47-21-40, authorize the execution of articles of dissolution, which shall be executed and acknowledged on behalf of the cooperative by its president or vice-president, and its seal shall be affixed thereto and attested by its secretary. The articles of dissolution shall recite that they are executed pursuant to this chapter and shall state:

(1) The name of the cooperative;

(2) The address of its principal office;

(3) The date on which the certificate of election to dissolve was filed by the secretary of state;

(4) That there are no actions or suits pending against the cooperative;

(5) That all debts, obligations, and liabilities of the cooperative have been paid and discharged or that adequate provision has been made therefor; and

(6) That the provisions of §§ 47-21-36 to 47-21-40, inclusive, have been duly complied with.

The president or vice-president executing the articles of dissolution shall make and annex thereto an affidavit stating that the statements made therein are true.

SDCL 47-21-41

SL 1947, ch 33, § 21; SDC Supp 1960, § 11.2221 (2).