{"data":{"id":"us-sd/sdcl-47-1a-1103.2","jurisdiction":"us-sd","citation":"SDCL § 47-1A-1103.2","heading":"Procedures for approval of share exchange if not in organic law of entity.","body":"If the organic law of a domestic other entity does not provide procedures for the approval of a share exchange, a plan of share exchange may be adopted and approved, and the share exchange effectuated, in accordance with the procedures, if any, for a merger. If the organic law of a domestic other entity does not provide procedures for the approval of either a share exchange or a merger, a plan of share exchange may be adopted and approved, the share exchange effectuated, and appraisal rights exercised, in accordance with the procedures in §§ 47-1A-1101 to 47-1A-1108, inclusive, and §§ 47-1A-1301 to 47-1A-1331.2, inclusive. For the purposes of applying §§ 47-1A-1101 to 47-1A-1108, inclusive, and §§ 47-1A-1301 to 47-1A-1331.2, inclusive:\n(1) The other entity, its interest holders, interests, and organic documents taken together shall be deemed to be a domestic business corporation, shareholders, shares, and articles of incorporation, respectively and vice versa as the context may require; and\n(2) If the business and affairs of the other entity are managed by a group of persons that is not identical to the interest holders, that group shall be deemed to be the board of directors.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-1A. SOUTH DAKOTA BUSINESS CORPORATION ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-1A-1103.2","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"6345782c7d679b040eecc9385ff67c30fb81929010c573986be77df7861a8a8d","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-1a-1103.1","next":"us-sd/sdcl-47-1a-1103.3"},"notice":"GroundRules: Original legal text. Not legal advice."}