Section 47-17-1 - Board of directors as manager of cooperative--Qualifications of directors.
47-17-1. Board of directors as manager of cooperative--Qualifications of directors. The business and affairs of a cooperative shall be managed by a board of directors. Every director shall be a member or a representative of a member who is other than a natural person. The bylaws shall prescribe any other qualifications for directors and may provide that directors be from specified territorial districts.
Source: SDC 1939, § 11.1123 (1) as enacted by SL 1965, ch 23, § 1.