South Dakota Code § 47-13B-7

Qualifications of directors and officers--Restrictions on powers of lay directors and officers
Open in Lexace · Ask the AI about this section
The principal executive officer shall be a shareholder and a director and, to the extent possible, all other directors and principal officers shall be shareholders, and lay directors and officers shall not exercise any authority whatsoever over professional matters.

‹ Prev All South Dakota sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.