South Dakota Codified Laws 47-1A-1521. Automatic withdrawal upon certain conversions
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A foreign business corporation authorized to transact business in this state that converts to any form of domestic filing entity shall be deemed to have withdrawn on the effective date of the conversion.
Terms Used In South Dakota Codified Laws 47-1A-1521
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Entity: includes domestic and foreign business corporation. See South Dakota Codified Laws 47-1A-140
Source: SL 2005, ch 239, § 364.