South Dakota Codified Laws 47-1A-740. Subpart definitions
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Terms used in §§ 47-1A-741 to 47-1A-747, inclusive, mean:
(1) “Derivative proceeding,” a civil suit in the right of a domestic corporation or, to the extent provided in § 47-1A-747, in the right of a foreign corporation;
Terms Used In South Dakota Codified Laws 47-1A-740
- 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
(2) “Shareholder,” includes a beneficial owner whose shares are held in a voting trust or held by a nominee on the beneficial owner’s behalf.
Source: SL 2005, ch 239, § 123.