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Code · South Dakota · Title 47 · Chapter 47-10

47-10-11. Directors--Number and term of office.

65 words·~1 min read·/sd/title-47/chapter-47-10/47-10-11

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The corporate powers of any business development credit corporation shall be exercised by a board of directors. The number of directors and their term of office shall be determined in a manner prescribed in the bylaws. At no time shall there be less than five directors. The initial board of directors shall consist of the incorporators and they shall serve until the first annual meeting.
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