Section 47-21-37 - Submission of dissolution proposition to members--Majority vote required.
47-21-37. Submission of dissolution proposition to members--Majority vote required. The proposition to dissolve a cooperative which has commenced business shall be submitted to the members of the cooperative at any annual or special meeting, the notice of which shall set forth such proposition. The members at any such meeting shall approve, by the affirmative vote of not less than a majority of all members of the cooperative, the proposition that the cooperative be dissolved.
Source: SL 1947, ch 33, § 21; SDC Supp 1960, § 11.2221 (2).