{"data":{"id":"us-sd/sdcl-47-1a-862","jurisdiction":"us-sd","citation":"SDCL § 47-1A-862","heading":"Directors' action respecting transaction--Effectiveness.","body":"Directors' action respecting a transaction is effective for purposes of subdivision 47-1A-861.1(1) if the transaction received the affirmative vote of a majority, but no fewer than one, of those qualified directors on the board of directors or on a duly empowered committee of the board who voted on the transaction after either required disclosure to them, to the extent the information was not known by them, or compliance with § 47-1A-861.1. However, action by a committee is effective only if:\n(1) At least one of its members is a qualified director; and\n(2) Its members are either all the qualified directors on the board or are appointed by the affirmative vote of a majority of the qualified directors on the board.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-1A. SOUTH DAKOTA BUSINESS CORPORATION ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-1A-862","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"55dd80577975591575e75a7d0a0c09638cb820f77b449a89453830d5e422c503","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-1a-861.1","next":"us-sd/sdcl-47-1a-862.1"},"notice":"GroundRules: Original legal text. Not legal advice."}