South Dakota Codified Laws 47-1A-1502.1. Stay of proceeding until necessity for certificate of authority is determined and obtained
Current as of: 2023 | Check for updates
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A court may stay a proceeding commenced by a foreign corporation, its successor, or assignee until it determines whether the foreign corporation or its successor requires a certificate of authority. If it so determines, the court may further stay the proceeding until the foreign corporation or its successor obtains the certificate.
Terms Used In South Dakota Codified Laws 47-1A-1502.1
- 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.
- Proceeding: includes civil suit and criminal, administrative, and investigatory action. See South Dakota Codified Laws 47-1A-140
Source: SL 2005, ch 239, § 349.