Classification or reclassification of unissued shares determined by board of directors.

1. Law
2. South Dakota Codified Laws
3. Corporations
4. South Dakota Business Corporation Act
5. Classification or reclassification of unissued shares determined by board of directors.

47-1A-602. Classification or reclassification of unissued shares determined by board of directors.

If the articles of incorporation so provide, the board of directors, without shareholder approval, may:

(1)Classify any unissued shares into one or more classes or into one or more series within a class;

(2)Reclassify any unissued shares of any class into one or more classes or into one or more series within one or more classes; or

(3)Reclassify any unissued shares of any series of any class into one or more classes or into one or more series within a class.

Source: SL 2005, ch 239, §56.

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