{"data":{"id":"us-sd/sdcl-47-1a-202.1","jurisdiction":"us-sd","citation":"SDCL § 47-1A-202.1","heading":"Articles of incorporation--Optional provisions.","body":"The articles of incorporation may set forth:\n(1) The names and addresses of the individuals who are to serve as the initial directors;\n(2) Provisions not inconsistent with law regarding:\n(a) The purpose or purposes for which the corporation is organized;\n(b) Managing the business and regulating the affairs of the corporation;\n(c) Defining, limiting, and regulating the powers of the corporation, its board of directors, and shareholders;\n(d) A par value for authorized shares or classes of shares; and\n(e) The imposition of personal liability on shareholders for the debts of the corporation to a specified extent and upon specified conditions;\n(3) Any provision that under this chapter is required or permitted to be set forth in the bylaws;\n(4) A provision eliminating or limiting the liability of a director to the corporation or its shareholders for money damages for any action taken, or any failure to take any action, as a director, except liability for the amount of a financial benefit received by a director to which the director is not entitled; an intentional infliction of harm on the corporation or the shareholders; a violation of § 47-1A-833; or an intentional violation of criminal law;\n(5) A provision permitting or making obligatory indemnification of a director for liability, as defined in subdivision 47-1A-850(5), to any person for any action taken, or any failure to take any action, as a director, except liability for receipt of a financial benefit to which the director is not entitled; an intentional infliction of harm on the corporation or its shareholders; a violation of § 47-1A-833.1; or an intentional violation of criminal law; and\n(6) Any provision limiting or denying preemptive rights to acquire additional or treasury shares of the corporation.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-1A. SOUTH DAKOTA BUSINESS CORPORATION ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-1A-202.1","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"742b501df24ed5a520a292bfc620ba1b2d47d6156c88c8c61fd960d0f858dfd3","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-1a-202","next":"us-sd/sdcl-47-1a-202.2"},"notice":"GroundRules: Original legal text. Not legal advice."}