Statutes > South Dakota Statutes > Title 47 - CORPORATIONS > Chapter 16 - Cooperatives--Membership, Stock And Distributions > Section 47-16-40 - Distribution of net proceeds.

Section 47-16-40 - Distribution of net proceeds.

47-16-40. Distribution of net proceeds. At least once annually the directors of a cooperative shall determine and distribute net proceeds as provided by §§ 47-16-41 to 47-16-53, inclusive.

Source: SDC 1939, § 11.1131 as enacted by SL 1965, ch 23, § 1.