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South Dakota Codified Laws

Chapter 47-21

S.D. Codified Laws ch. 47-21

Rural Electric Cooperatives

47-21-1Definitions.47-21-2Purpose and authority.47-21-3Name of cooperative--Exceptions.47-21-4Exclusive use of particular words.47-21-5Requirement that name be distinct.47-21-6Incorporators--Requisites and qualifications.47-21-7Articles of incorporation--Unnecessary recitals--Signing of articles.47-21-8Amendment of articles--Procedure--Two-thirds vote required.47-21-9Required recitals in amendment--Affidavit of compliance.47-21-10Board of directors--Bylaws--Meetings by teleconference.47-21-11Compensation of directors.47-21-12First directors--Term of office.47-21-13Election of directors--Maximum term of office.47-21-14Quorum of directors.47-21-15Husband and wife as directors.47-21-16Powers of board of directors.47-21-17Directors not disqualified from acknowledging instruments.47-21-18Adoption of first bylaws by directors--Subsequent bylaws adopted by members.47-21-19Provisions of bylaws.47-21-20Bylaw provision dividing area served into districts--Election of directors by districts--District meetings--Proxy voting prohibited.47-21-21Officers--Election and qualifications--Removal of officers.47-21-21.1RepealedRepealed 47-21-21.2Indemnification of directors, officers, agents, and employees against liability under certain circumstances.47-21-21.3Circumstances under which directors, officers, agents, and employees may not be indemnified.47-21-21.4Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding.47-21-22Conversion of corporation into cooperative.47-21-23Submission of conversion proposition to stockholders--Notice of meeting.47-21-24Two-thirds vote required for approval--Articles of conversion--Contents of articles--Affidavit of compliance.47-21-25Consolidating cooperatives.47-21-26Submission of consolidation proposition to members--Notice of meeting.47-21-27Majority vote required for approval--Articles of consolidation--Contents of articles--Affidavit of compliance.47-21-28Merging cooperatives.47-21-29Submission of merger proposition to members--Notice of meeting.47-21-30Majority vote required for approval--Articles of merger--Contents of articles--Affidavit of compliance.47-21-31Articles of consolidation as governing consolidated cooperative--Articles of surviving cooperative as governing merged cooperative.47-21-32Transfer of rights and obligations to surviving cooperative.47-21-33Liabilities after consolidation or merger--Preexisting claims--Substitution of parties.47-21-34Rights of creditors and lienors unaffected by consolidation or merger.47-21-35Dissolution before commencement of business--Articles of dissolution--Majority approval required--Contents of articles.47-21-36Dissolution after commencement of business.47-21-37Submission of dissolution proposition to members--Majority vote required.47-21-38Certificate of election to dissolve--Contents of certificate--Submission to secretary of state.47-21-39Cessation of business--Continuance of corporate existence--Notice to creditors--Publication.47-21-40Liquidation of affairs of cooperative--Distribution of assets--Rights of patrons--Rights of members--Distribution of remains.47-21-41Articles of dissolution--Contents of articles.47-21-42Delivery of articles to secretary of state--Fees--Effective date of action--Certificates of election to dissolve.47-21-43Fee schedule of secretary of state.47-21-44Encumbering cooperative property in favor of governmental agency permitted.47-21-45Circumstances under which property may be transferred--Majority vote required--Transfer to security holders.47-21-46Place of recordation of encumbrance.47-21-46.1Filing and recording of trust deed or mortgage in Office of Secretary of State--Effect.47-21-46.2Filing required under chapter 57A-9 to be maintained in Office of Secretary of State--Contents of financing statement--Termination of effectiveness.47-21-46.3Filing of mortgage or trust deed covering less than fee simple interest--Effect--Termination--Sufficiency of description.47-21-46.4Applicability of other laws--Single filing--Index.47-21-46.5Assignment or discharge of trust deed or mortgage.47-21-46.6Filing fee.47-21-47After-acquired property as subject to encumbrance--Recordation as notice.47-21-48Encumbrance against personal property--Continuance of lien without refiling.47-21-49Members of cooperatives--Qualifications.47-21-50Use of electric energy required--Failure to make energy available.47-21-51Husband and wife as members--Membership not transferable--Additional qualifications of members.47-21-52Liability of members for acts of cooperative.47-21-53Annual members' meeting.47-21-54Special meetings for members--Procedure for calling.47-21-55Notice of meeting--Contents of notice--Method of giving notice.47-21-56Quorum for members' meetings--Quorum for district meeting--Adjournment for failure of quorum.47-21-57Voting by members--Spouse voting for member--Mail voting.47-21-58Waiver of notice--Attendance as waiver--Exceptions.47-21-59Powers of cooperative--Capacity to sue and be sued.47-21-60Powers of cooperative--Perpetual existence.47-21-61Powers of cooperative--Corporate seal.47-21-62Powers of cooperative--Generation and distribution of electric energy.47-21-63Powers of cooperative--Dealing in property and equipment.47-21-64Powers of cooperative--Franchises, licenses and easements.47-21-65Powers of cooperative--Borrowing--Security for borrowing.47-21-66Powers of cooperative--Construction and maintenance of facilities on public lands.47-21-67Powers of cooperative--Eminent domain.47-21-68Powers of cooperative--Joining other cooperatives.47-21-69Powers of cooperative--Extraterritorial powers.47-21-70Powers of cooperative--Bylaws.47-21-71Powers of cooperative--Other powers.47-21-72Requirement that cooperative be nonprofit--Disposition of revenues.47-21-72.1Directors not liable for distribution in good faith reliance on financial statements or accountants' reports.47-21-73Municipal corporation or county grant to use public streets.47-21-74Foreign cooperatives--Conditions to local operation--Statement to secretary of state--Contents of statement.47-21-75Construction to comply with National Electrical Safety Code--Compliance establishes due care in negligence claim.47-21-76Change of location of principal office--Certificate to secretary of state.47-21-77Securities regulation laws inapplicable.47-21-78Construction of chapter.47-21-79Limitation of actions.47-21-80Severability and saving clause.47-21-81Citation of chapter.47-21-82Cooperatives able to use property and funds to promote economic development and may lend money--Restrictions on loans.47-21-83Forfeiture of unclaimed credits.47-21-84Application of South Dakota's Public Communications Network Infrastructure.