South Dakota Codified Laws 58-35-21. Bylaws–Making and approval–Modification
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The initial board of directors of a farm mutual insurer shall adopt such bylaws as may be deemed necessary for the management of its affairs. The bylaws shall be subject to the approval of the insurer’s members at their next succeeding meeting by a two–thirds vote of those present in person or, if authorized by the bylaws, by proxy. The members shall otherwise have the power to make, modify, and revoke bylaws.
Terms Used In South Dakota Codified Laws 58-35-21
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1966, ch 111, ch 17, § 13.