{"data":{"id":"us-sd/sdcl-47-26-7","jurisdiction":"us-sd","citation":"SDCL § 47-26-7","heading":"Membership vote on plan--Meeting--Notice of meeting--Two-thirds vote required.","body":"Where there are members entitled to vote thereon, the board of directors shall adopt a resolution recommending a plan of distribution and directing the submission thereof to a vote at a meeting of members entitled to vote thereon, which may be either an annual or a special meeting. Written notice setting forth the proposed plan of distribution or a summary thereof shall be given to each member entitled to vote at such meeting, within the time and in the manner provided by chapter 47-23 for the giving of notice of meeting of members. Such plan of distribution shall be adopted upon receiving at least two-thirds of the votes entitled to be cast by members present or represented by proxy at such meeting.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-26. NONPROFIT CORPORATIONS--DISSOLUTION AND LIQUIDATION"],"source_url":"https://sdlegislature.gov/Statutes/47-26-7","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"9ed090edf16763ca14b439b14f220a116e66f1bd792c4c0e66aab51effa2808a","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-26-6.1","next":"us-sd/sdcl-47-26-8"},"notice":"GroundRules: Original legal text. Not legal advice."}