47-21-56. Quorum for members' meetings--Quorum for district meeting--Adjournment for failure of quorum.
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/sd/title-47/chapter-47-21/47-21-56A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Unless the bylaws prescribe the presence of a greater percentage or number of the members for a quorum, a quorum for the transaction of business at all meetings of the members of a cooperative having not more than one thousand members, shall be five percent of all members, present in person, and of a cooperative having more than one thousand members, shall be fifty members, present in person. If less than a quorum is present at any meeting, a majority of those present in person may adjourn the meeting from time to time without further notice.
The sufficiency or requirement of a quorum for the transaction of business at a district meeting of members shall be established in the bylaws. However, the quorum may not be less than five members.