47-15-46. Duration of existence of preexisting cooperatives.
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/sd/title-47/chapter-47-15/47-15-46A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Cooperatives organized prior to July 1, 1965 under the provisions of chapter 4.16 or 11.10 or 11.11 of the South Dakota Code of 1939 or amendments thereof are granted perpetual existence irrespective of the period of existence set forth in the articles of incorporation. Any such cooperative may nevertheless amend its articles to provide for a limited period of existence.