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Code · South Dakota · Title 47 · Chapter 47-18

47-18-23. Title to property omitted from final distribution.

65 words·~1 min read·/sd/title-47/chapter-47-18/47-18-23

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Upon the filing and recording of the certificate or decree of dissolution of a cooperative, title to any property omitted from the final distribution vests in the surviving directors or committee members who signed the certificate, as trustees. They have all the powers of the cooperative with respect to such property and shall distribute the property or its proceeds to the persons beneficially entitled thereto.
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