47-18-15. Involuntary dissolution--Action by attorney general--Grounds for involuntary dissolution.
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/sd/title-47/chapter-47-18/47-18-15A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A cooperative may be dissolved involuntarily by a decree of the circuit court where the principal office or registered agent is located in an action commenced by the attorney general when it is established that:
(1)The cooperative's certificate of incorporation was procured through fraud; or
(2)The cooperative has continued to exceed or abuse the authority conferred upon it by chapters 47-15 to 47-20 , inclusive; or
(3)The cooperative failed to comply with a court order for the production of books, records, or other documents of the cooperative as provided in § 47-20-3 .