The board of directors shall, upon completion of the acts required by § 47-21-40, authorize the execution of articles of dissolution, which shall be executed and acknowledged on behalf of the cooperative by its president or vice–president, and its seal shall be affixed thereto and attested by its secretary. The articles of dissolution shall recite that they are executed pursuant to this chapter and shall state:

(1) The name of the cooperative;

Terms Used In South Dakota Codified Laws 47-21-41

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Seal: includes an impression of the seal upon the paper alone, as well as upon wax or a wafer affixed to the paper, and also the word "seal" written or printed on such paper. See South Dakota Codified Laws 2-14-2

(2) The address of its principal office;

(3) The date on which the certificate of election to dissolve was filed by the secretary of state;

(4) That there are no actions or suits pending against the cooperative;

(5) That all debts, obligations, and liabilities of the cooperative have been paid and discharged or that adequate provision has been made therefor; and

(6) That the provisions of §§ 47-21-36 to 47-21-40, inclusive, have been duly complied with.

The president or vice–president executing the articles of dissolution shall make and annex thereto an affidavit stating that the statements made therein are true.

Source: SL 1947, ch 33, § 21; SDC Supp 1960, § 11.2221 (2).

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