Issuance of certificate of incorporation--Certificate as conclusive evidence of proper incorporation

Upon receipt of the articles of incorporation and payment of the required fees the secretary of state shall issue a certificate of incorporation. The certificate of incorporation shall be conclusive evidence, except as against the state in a proceeding to cancel or revoke such certificate, that all conditions precedent to corporate existence have been met. Source: SDC 1939, § 11.1108 as enacted by SL 1965, ch 23, § 1.