South Dakota Codified Laws 47-11A-3. Powers and privileges restricted to corporate purpose
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A corporation formed under § 47-11A-1 may exercise the powers and privileges conferred upon corporations by the laws of the State of South Dakota only in furtherance of and subject to its corporate purpose.
Terms Used In South Dakota Codified Laws 47-11A-3
- 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.
Source: SL 1970, ch 258, § 1 (3).