South Dakota Codified Laws 47-11D-3. Certification of officers, directors and shareholders
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All of the officers, directors, and shareholders of a corporation created by this chapter shall at all times be persons certified pursuant to the provisions of chapter 36-4A. No person who is not so certified may have any part in the ownership or control of such corporation, nor may any proxy to vote any shares of such corporation be given to a person who is not so certified.
Terms Used In South Dakota Codified Laws 47-11D-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.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1993, ch 337, § 3.