49-33-1. Incorporation of company--Articles of incorporation--Perpetual existence--Reinstatement of articles as amended. Any number of persons, not less than three, may form a corporation for the purpose of constructing, maintaining and operating a street railway or railways or for the purpose of generating, transmitting or distributing electricity, the same to be sold to or used by the public for heat, light or power, by making and executing articles of incorporation in compliance with §§ 47-1A-202 to 47-1A-202.3, inclusive, and §§ 47-1A-627 to 47-1A-627.2, inclusive. Such corporation shall exist perpetually unless otherwise stated in its articles of incorporation and shall have the power to engage in other businesses set forth therein.
Any corporation organized under chapter 49-33 may at any time restate its articles of incorporation as theretofore amended by a resolution adopted by its board of directors. The secretary of state shall accept the restated articles of incorporation for filing upon receipt of a certified copy of said resolution.
Source: SDC 1939, § 52.1501; SL 1947, ch 236, § 1; SL 1986, ch 396, § 1; SL 2005, ch 202, § 9.
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