For the purposes of this title, the act or omission of any officer, agent, or other person acting for or employed by any individual, corporation, limited liability company, association, or partnership within the scope of office, agency, or employment shall be deemed to be the act or omission of such individual, corporation, limited liability company, association, or partnership as well as of such person.

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Terms Used In South Dakota Codified Laws 39-1-9

  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2

Source: SL 1917, ch 242, § 9; RC 1919, § 7804; SDC 1939, § 22.0107; SL 1994, ch 351, § 92.