South Dakota Codified Laws 47-1A-1522. Withdrawal upon conversion to a nonfiling entity
A foreign business corporation authorized to transact business in this state that converts to a domestic or foreign nonfiling entity shall apply for a certificate of withdrawal by delivering an application to the secretary of state for filing. The application must set forth:
(1) The name of the foreign business corporation and the name of the state or country under whose law it was incorporated before the conversion;
Terms Used In South Dakota Codified Laws 47-1A-1522
- 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
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Service of process: The service of writs or summonses to the appropriate party.
(2) That it surrenders its authority to transact business in this state as a foreign business corporation;
(3) The type of unincorporated entity to which it has been converted and the jurisdiction whose laws govern its internal affairs;
(4) If it has been converted to a foreign unincorporated entity:
(a) That it revokes the authority of its registered agent to accept service on its behalf; and
(b) The address of the entity’s principal office.
After the withdrawal under this section of a corporation that has converted to a foreign unincorporated entity is effective, service of process is perfected pursuant to § 47-1A-1510.
After the withdrawal under this section of a corporation that has converted to a domestic unincorporated entity is effective, service of process shall be made on the unincorporated entity in accordance with the regular procedures for service of process on the form of unincorporated entity to which the corporation was converted.
Source: SL 2005, ch 239, § 365.