Rural Electric Cooperatives

  1. Law
  2. South Dakota Codified Laws
  3. Corporations
  4. Rural Electric Cooperatives

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Section
47-21-1

Definitions.

Section
47-21-2

Purpose and authority.

Section
47-21-3

Name of cooperative--Exceptions.

Section
47-21-4

Exclusive use of particular words.

Section
47-21-5

Requirement that name be distinct.

Section
47-21-6

Incorporators--Requisites and qualifications.

Section
47-21-7

Articles of incorporation--Unnecessary recitals--Signing of articles.

Section
47-21-8

Amendment of articles--Procedure--Two-thirds vote required.

Section
47-21-9

Required recitals in amendment--Affidavit of compliance.

Section
47-21-10

Board of directors--Bylaws--Meetings by teleconference.

Section
47-21-11

Compensation of directors.

Section
47-21-12

First directors--Term of office.

Section
47-21-13

Election of directors--Maximum term of office.

Section
47-21-14

Quorum of directors.

Section
47-21-15

Husband and wife as directors.

Section
47-21-16

Powers of board of directors.

Section
47-21-17

Directors not disqualified from acknowledging instruments.

Section
47-21-18

Adoption of first bylaws by directors--Subsequent bylaws adopted by members.

Section
47-21-19

Provisions of bylaws.

Section
47-21-20

Bylaw provision dividing area served into districts--Election of directors by districts--District meetings--Proxy voting prohibited.

Section
47-21-21

Officers--Election and qualifications--Removal of officers.

Section
47-21-21.1

Repealed.

Section
47-21-21.2

Indemnification of directors, officers, agents, and employees against liability under certain circumstances.

Section
47-21-21.3

Circumstances under which directors, officers, agents, and employees may not be indemnified.

Section
47-21-21.4

Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding.

Section
47-21-22

Conversion of corporation into cooperative.

Section
47-21-23

Submission of conversion proposition to stockholders--Notice of meeting.

Section
47-21-24

Two-thirds vote required for approval--Articles of conversion--Contents of articles--Affidavit of compliance.

Section
47-21-25

Consolidating cooperatives.

Section
47-21-26

Submission of consolidation proposition to members--Notice of meeting.

Section
47-21-27

Majority vote required for approval--Articles of consolidation--Contents of articles--Affidavit of compliance.

Section
47-21-28

Merging cooperatives.

Section
47-21-29

Submission of merger proposition to members--Notice of meeting.

Section
47-21-30

Majority vote required for approval--Articles of merger--Contents of articles--Affidavit of compliance.

Section
47-21-31

Articles of consolidation as governing consolidated cooperative--Articles of surviving cooperative as governing merged cooperative.

Section
47-21-32

Transfer of rights and obligations to surviving cooperative.

Section
47-21-33

Liabilities after consolidation or merger--Preexisting claims--Substitution of parties.

Section
47-21-34

Rights of creditors and lienors unaffected by consolidation or merger.

Section
47-21-35

Dissolution before commencement of business--Articles of dissolution--Majority approval required--Contents of articles.

Section
47-21-36

Dissolution after commencement of business.

Section
47-21-37

Submission of dissolution proposition to members--Majority vote required.

Section
47-21-38

Certificate of election to dissolve--Contents of certificate--Submission to secretary of state.

Section
47-21-39

Cessation of business--Continuance of corporate existence--Notice to creditors--Publication.

Section
47-21-40

Liquidation of affairs of cooperative--Distribution of assets--Rights of patrons--Rights of members--Distribution of remains.

Section
47-21-41

Articles of dissolution--Contents of articles.

Section
47-21-42

Delivery of articles to secretary of state--Fees--Effective date of action--Certificates of election to dissolve.

Section
47-21-43

Fee schedule of secretary of state.

Section
47-21-44

Encumbering cooperative property in favor of governmental agency permitted.

Section
47-21-45

Circumstances under which property may be transferred--Majority vote required--Transfer to security holders.

Section
47-21-46

Place of recordation of encumbrance.

Section
47-21-46.1

Filing and recording of trust deed or mortgage in Office of Secretary of State--Effect.

Section
47-21-46.2

Filing required under chapter 57A-9 to be maintained in Office of Secretary of State--Contents of financing statement--Termination of effectiveness.

Section
47-21-46.3

Filing of mortgage or trust deed covering less than fee simple interest--Effect--Termination--Sufficiency of description.

Section
47-21-46.4

Applicability of other laws--Single filing--Index.

Section
47-21-46.5

Assignment or discharge of trust deed or mortgage.

Section
47-21-46.6

Filing fee.

Section
47-21-47

After-acquired property as subject to encumbrance--Recordation as notice.

Section
47-21-48

Encumbrance against personal property--Continuance of lien without refiling.

Section
47-21-49

Members of cooperatives--Qualifications.

Section
47-21-50

Use of electric energy required--Failure to make energy available.

Section
47-21-51

Husband and wife as members--Membership not transferable--Additional qualifications of members.

Section
47-21-52

Liability of members for acts of cooperative.

Section
47-21-53

Annual members' meeting.

Section
47-21-54

Special meetings for members--Procedure for calling.

Section
47-21-55

Notice of meeting--Contents of notice--Method of giving notice.

Section
47-21-56

Quorum for members' meetings--Quorum for district meeting--Adjournment for failure of quorum.

Section
47-21-57

Voting by members--Spouse voting for member--Mail voting.

Section
47-21-58

Waiver of notice--Attendance as waiver--Exceptions.

Section
47-21-59

Powers of cooperative--Capacity to sue and be sued.

Section
47-21-60

Powers of cooperative--Perpetual existence.

Section
47-21-61

Powers of cooperative--Corporate seal.

Section
47-21-62

Powers of cooperative--Generation and distribution of electric energy.

Section
47-21-63

Powers of cooperative--Dealing in property and equipment.

Section
47-21-64

Powers of cooperative--Franchises, licenses and easements.

Section
47-21-65

Powers of cooperative--Borrowing--Security for borrowing.

Section
47-21-66

Powers of cooperative--Construction and maintenance of facilities on public lands.

Section
47-21-67

Powers of cooperative--Eminent domain.

Section
47-21-68

Powers of cooperative--Joining other cooperatives.

Section
47-21-69

Powers of cooperative--Extraterritorial powers.

Section
47-21-70

Powers of cooperative--Bylaws.

Section
47-21-71

Powers of cooperative--Other powers.

Section
47-21-72

Requirement that cooperative be nonprofit--Disposition of revenues.

Section
47-21-72.1

Directors not liable for distribution in good faith reliance on financial statements or accountants' reports.

Section
47-21-73

Municipal corporation or county grant to use public streets.

Section
47-21-74

Foreign cooperatives--Conditions to local operation--Statement to secretary of state--Contents of statement.

Section
47-21-75

Construction to comply with National Electrical Safety Code--Compliance establishes due care in negligence claim.

Section
47-21-76

Change of location of principal office--Certificate to secretary of state.

Section
47-21-77

Securities regulation laws inapplicable.

Section
47-21-78

Construction of chapter.

Section
47-21-79

Limitation of actions.

Section
47-21-80

Severability and saving clause.

Section
47-21-81

Citation of chapter.

Section
47-21-82

Cooperatives able to use property and funds to promote economic development and may lend money--Restrictions on loans.

Section
47-21-83

Forfeiture of unclaimed credits.

Section
47-21-84

Application of South Dakota's Public Communications Network Infrastructure.