South Dakota § 47-15-40 - Promotion expenses--Commissions on stock sales--Limitations.
Full text of South Dakota South Dakota Codified Laws § 47-15-40 — Promotion expenses--Commissions on stock sales--Limitations., with citation guidance and answers to common questions.
§ 47-15-40. Promotion expenses--Commissions on stock sales--Limitations.
No cooperative funds may be used, nor any stock issued, in payment of any promotion expenses in excess of ten percent of the paid-up capital stock or membership fees. No commission or expenses shall be paid on the sale of stock in excess of ten percent of the par value thereof.
Source: SDC 1939, § 11.1112 as enacted by SL 1965, ch 23, § 1.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 47-15-40
What does South Dakota Codified Laws § 47-15-40 cover?
Section 47-15-40 ("Promotion expenses--Commissions on stock sales--Limitations.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 47-15-40?
A common citation format is "South Dakota Codified Laws § 47-15-40" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 47-15-40 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.