South Dakota § 49-33-20 - Failure to pay for subscription--Collection by directors--Forfeiture of amounts previously paid.
Full text of South Dakota South Dakota Codified Laws § 49-33-20 — Failure to pay for subscription--Collection by directors--Forfeiture of amounts previously paid., with citation guidance and answers to common questions.
§ 49-33-20. Failure to pay for subscription--Collection by directors--Forfeiture of amounts previously paid.
The directors may require any amounts unpaid upon the capital stock to be paid in such manner, at such times and in such installments as they may deem proper. If any stockholder shall neglect to pay any installment of such capital stock as required by a resolution of the board of directors and such board shall have caused a notice to be served upon such stockholder personally, or by depositing the same in the post office directed to such stockholder at his usual and nearest post-office address at least thirty days before the day on which such payment is required to be made, stating that he is required to make such payment at the time and place specified in such notice and that, if he fails to do so, such stock and all payments previously made thereon will be forfeited to the use of the corporation, such board of directors may, by resolution, declare such stock and all payments forfeited for the use of the corporation and the same shall thereupon be forfeited and the title thereto shall revest in the corporation, or such board may, at its option, enforce payment of the installments due on such shares of the capital stock in the manner provided by law.
Source: SDC 1939, § 52.1506.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 49-33-20
What does South Dakota Codified Laws § 49-33-20 cover?
Section 49-33-20 ("Failure to pay for subscription--Collection by directors--Forfeiture of amounts previously paid.") 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 § 49-33-20?
A common citation format is "South Dakota Codified Laws § 49-33-20" (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 § 49-33-20 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.