47-15-14 Amendment converting corporation to cooperative.
Amendment converting corporation to cooperative.
Any corporation may convert
itself into a cooperative by adopting an amendment to its articles by which it elects to become subject
to chapters 47-15 to 47-20, inclusive, together with changes in its articles required by said chapters
and other desirable changes permitted by said chapters. Such amendment shall be adopted, filed, and
recorded in the manner provided by the law then applicable to the corporation and the conversion
shall be effective upon issuance of the certificate of amendment by the secretary of state.
Source: SDC 1939, § 11.1142 as enacted by SL 1965, ch 23, § 1; SL 1976, ch 287, § 2.