{"data":{"id":"us-sd/sdcl-47-1a-1202.1","jurisdiction":"us-sd","citation":"SDCL § 47-1A-1202.1","heading":"Resolution authorizing disposition--Recommendation and submission of resolution to shareholders--Conditions.","body":"A disposition that requires approval of the shareholders under § 47-1A-1202 shall be initiated by a resolution by the board of directors authorizing the disposition. After adoption of such a resolution, the board of directors shall submit the proposed disposition to the shareholders for their approval. The board of directors shall also transmit to the shareholders a recommendation that the shareholders approve the proposed disposition, unless the board of directors makes a determination that because of conflicts of interest or other special circumstances it should not make such a recommendation, in which case the board of directors shall transmit to the shareholders the basis for that determination.\nThe board of directors may condition its submission of a disposition to the shareholders under this section on any basis.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-1A. SOUTH DAKOTA BUSINESS CORPORATION ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-1A-1202.1","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"b5353d35a0c1faf00e4fe078a9bb90a977c59a362a7b62da46c5103f3963728d","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-1a-1202","next":"us-sd/sdcl-47-1a-1202.2"},"notice":"GroundRules: Original legal text. Not legal advice."}