South Dakota Codified Laws 47-1A-824.1. Director presence assent to action taken–Exceptions
A director who is present at a meeting of the board of directors or a committee of the board of directors when corporate action is taken is deemed to have assented to the action taken unless:
(1) The director objects at the beginning of the meeting, or promptly upon arrival, to holding it or transacting business at the meeting;
Terms Used In South Dakota Codified Laws 47-1A-824.1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
(2) The director’s dissent or abstention from the action taken is entered in the minutes of the meeting; or
(3) The director delivers written notice of dissent or abstention to the presiding officer of the meeting before its adjournment or to the corporation immediately after adjournment of the meeting.
The right of dissent or abstention is not available to a director who votes in favor of the action taken.
Source: SL 2005, ch 239, § 152.