SDCL § 46A-8-5: Election of officers and directors of association.

At all elections of any such association the person receiving the highest number of votes for any office shall be deemed elected. All elections of directors shall be by districts and must be by ballot, and a vote of the shareholders representing a majority of the shares of stock cast at such election and which shares are appurtenant to lands within the district in which such candidate resides is necessary to a choice.

Source: SDC 1939, § 61.0203; SDCL, § 46-11-5.