South Dakota § 51A-3-13 - Subscription of shares--Minimum collection--Refund on disapproval of application.
Full text of South Dakota South Dakota Codified Laws § 51A-3-13 — Subscription of shares--Minimum collection--Refund on disapproval of application., with citation guidance and answers to common questions.
§ 51A-3-13. Subscription of shares--Minimum collection--Refund on disapproval of application.
The incorporators shall collect an amount equal to not less than ten percent of the subscription price of each share of stock subscribed for at the time such subscriptions are issued. If the application is disapproved by the director or commission, that portion of the moneys so collected remaining after the payment of the expenses incidental to such application shall be proportionally refunded to the subscribers.
Source: SL 1969, ch 11, § 3.12; SL 1970, ch 265, § 19; SDCL § 51-17-13; SL 1988, ch 377, § 63; SDCL § 51-17-18.1; SL 2012, ch 252, § 10.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 51A-3-13
What does South Dakota Codified Laws § 51A-3-13 cover?
Section 51A-3-13 ("Subscription of shares--Minimum collection--Refund on disapproval of application.") 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 § 51A-3-13?
A common citation format is "South Dakota Codified Laws § 51A-3-13" (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 § 51A-3-13 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.