Section 58-5-81 - Quorum of directors during national emergency--Filling vacancies in board. - South Dakota Statutes

58-5-81. Quorum of directors during national emergency--Filling vacancies in board. In the event that the board of directors of a domestic insurer has not adopted emergency bylaws, the following provisions shall become effective upon the occurrence of such a national emergency:
(1) Three directors shall constitute a quorum for the transaction of business at all meetings of the board; and
(2) Any vacancy in the board may be filled by a majority of the remaining directors, though less than a quorum, or by a sole remaining director.

Source: SL 1966, ch 111, ch 16, § 43 (3).