The South Dakota Amendment to Articles of Incorporation allows corporations to modify their original articles to include provisions regarding the payment of distributions out of any legally available funds. This amendment is crucial as it enables corporations to distribute profits to shareholders or members while ensuring compliance with applicable laws and regulations. When filing such an amendment, it is important to adhere to the specific guidelines provided by the South Dakota Secretary of State. Failure to meet these requirements may result in a rejection or delay in processing the amendment. The following keywords are essential to understanding the South Dakota Amendment to Articles of Incorporation regarding paying distributions out of any funds legally available therefor: 1. South Dakota Amendment to Articles of Incorporation: This term refers to the legal process of modifying a corporation's original articles to accommodate new provisions, specifically related to paying distributions out of legally available funds. 2. Distributions: This keyword denotes the financial payout made by a corporation to its shareholders or members from the funds it has available for distribution. It may include dividends, bonuses, or other forms of financial returns. 3. Legally Available Funds: This phrase highlights the requirement that distributions must be made from funds that are legally accessible or permitted by state laws and regulations. Different types of South Dakota Amendment to Articles of Incorporation regarding paying distributions out of any funds legally available therefor may vary based on the specific language inserted into the amendment. While the content can be personalized to meet the needs of each corporation, it generally includes: a. Authorization of distributions: This provision allows the corporation to pay distributions to its shareholders or members. b. Determining legally available funds: This section outlines the criteria or mechanisms for determining which funds are legally available for distribution. c. Compliance with state laws and regulations: This clause ensures that distributions are made in accordance with the applicable South Dakota statutes and other legal requirements. d. Board of Directors' discretion: This provision grants the board of directors the authority to decide when and how distributions will be made, within the limits imposed by law. e. Limitations on distributions: This section sets forth any restrictions or limitations on the amounts or frequency of distributions to be made by the corporation. f. Record keeping and reporting: This clause requires the corporation to maintain appropriate records of distributions made and to report them as required by law. It is crucial to consult with legal professionals when preparing and filing the South Dakota Amendment to Articles of Incorporation. They can provide guidance specific to your corporation's circumstances and ensure compliance with all necessary legal standards.
South Dakota Amendment to Articles of Incorporation regarding paying distributions out of any funds legally available therefor
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In South Dakota, eminent domain gives the government the power to take your property, even if you don't want to sell. But under the Fifth Amendment, eminent domain must be for a ?public use,? which traditionally meant projects like roads or bridges.
South Dakota was the first state in the nation to abolish the Rule Against Perpetuities ? which prohibited unlimited-duration trusts ? in 1983, clearing the way for the creation of the Dynasty Trust.
But the Fifth Amendment places two strict limits on eminent domain. First, private property can be taken only for ?public use,? or public works projects, like roads and bridges. Second, even if a property is taken for a public use, the owner must be paid ?just compensation.?
The first step is to file a form called the Amended Articles of Organization with the Secretary of State and wait for it to be approved. This is how you officially change your LLC name in South Dakota. The filing fee for the Amended Articles of Organization in South Dakota is $60.