If action is to be taken with respect to any matter which is not required to be submitted to a vote of stockholders, the solicitor shall state the nature of such matter, the reason for submitting it to a vote of stockholders and what action is intended to be taken by the management in the event of a negative vote on the matter by the stockholders.

Source: SL 1975, ch 16, § 1; 12 SDR 151, 12 SDR 155, effective July 1, 1986.

General Authority: SDCL 58-4-1 , 58-5-49.

Law Implemented: SDCL 58-5-49.