47-26-16. Involuntary dissolution by court decree--Action by attorney general--Grounds of action.
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/sd/title-47/chapter-47-26/47-26-16A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The provisions of § 47-24-13.1 notwithstanding, a corporation may be dissolved involuntarily by a decree of the circuit court in an action filed by the attorney general if it is established that:
(1)The corporation procured its articles of incorporation through fraud; or
(2)The corporation has continued to exceed or abuse the authority conferred upon it by law.