Updated April 25, 2023
South Dakota corporate bylaws establish how a corporation will be structured, managed, and operated to achieve maximum efficiency. The board of directors and the shareholders maintain the power to make big decisions for the corporation, which includes amending the bylaws on occasion as the corporation develops. Committees are enacted and defined in the bylaws to create groups of board members who are tasked to handle specific affairs and issues for the corporation. The bylaws template also states the purpose of the corporation, when, where, and how often the shareholders must meet, and how the corporation’s stock is issued.
Laws
- Annual Meetings – § 47-1A-701
- Corporate Bylaws – § 47-1A-206
- Issuance of Stock – § 47-1A-603, § 47-1A-621, and § 47-1A-621.1
Emergency Bylaws
Emergency bylaws allow a corporation to adopt/amend certain bylaws to properly manage the company during a time of emergency. (§ 47-1A-207)