{"data":{"id":"us-sd/sdcl-47-1a-1405","jurisdiction":"us-sd","citation":"SDCL § 47-1A-1405","heading":"Effect of dissolution.","body":"A dissolved corporation continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including:\n(1) Collecting its assets;\n(2) Disposing of its properties that will not be distributed in kind to its shareholders;\n(3) Discharging or making provision for discharging its liabilities;\n(4) Distributing its remaining property among its shareholders according to their interests; and\n(5) Doing every other act necessary to wind up and liquidate its business and affairs.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-1A. SOUTH DAKOTA BUSINESS CORPORATION ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-1A-1405","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"1130f449c943cab36b6c99f93b6346078c15c7099c74d23089f1a088db4dffbb","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-1a-1404","next":"us-sd/sdcl-47-1a-1405.1"},"notice":"GroundRules: Original legal text. Not legal advice."}