47-23-4. Annual members' meeting--Time and place--Failure to hold meeting.
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/sd/title-47/chapter-47-23/47-23-4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An annual meeting of the members of a corporation shall be held at such time as may be provided in the bylaws. Failure to hold the annual meeting at the designated time shall not work a forfeiture or dissolution of the corporation. The articles of incorporation or bylaws may provide that an annual or regular meeting of members does not need to be held at a geographic location and may instead be held by any means of electronic communication which allows the members to read or hear the proceedings substantially concurrently with their occurrence, vote on matters submitted to the members, pose questions, and make comments.