{"data":{"id":"us-sd/sdcl-58-5-55","jurisdiction":"us-sd","citation":"SDCL § 58-5-55","heading":"Meetings of stockholders or members--Organization for transaction of business, quorum required.","body":"A stockholders' or members' meeting duly held can be organized for the transaction of business whenever a quorum is present. Unless otherwise provided in the bylaws or articles of incorporation:\n(1) The presence, in person or by proxy, of the holders of not less than ten percent of the voting power of all stockholders or of all members shall constitute a quorum;\n(2) The stockholders or members present at a duly organized meeting can continue to do business until adjournment, notwithstanding the withdrawal of enough stockholders or members to leave less than a quorum;\n(3) If any necessary officer fails to attend such meeting, any stockholder or member present may be elected to act temporarily in lieu of any such absent officer;\n(4) In the absence of a quorum, those present may adjourn the meeting to such time as they may determine; and\n(5) An annual or special meeting of stockholders or members may be adjourned to another date without a new notice being given.","path":["TITLE 58. INSURANCE","CHAPTER 58-5. ORGANIZATION AND GENERAL POWERS OF INSURERS"],"source_url":"https://sdlegislature.gov/Statutes/58-5-55","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"1d55607d178e0d1bf7949803025b26eee2f0e39754e7d0a6f118ecef8e0a98fe","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-58-5-54","next":"us-sd/sdcl-58-5-56"},"notice":"GroundRules: Original legal text. Not legal advice."}