South Dakota Codified Laws 47-1A-747. Applicability to foreign corporations
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In any derivative proceeding in the right of a foreign corporation, the matters covered by §§ 47-1A-740 to 47-1A-747, inclusive, shall be governed by the laws of the jurisdiction of incorporation of the foreign corporation except for §§ 47-1A-743, 47-1A-745, and 47-1A-746.
Terms Used In South Dakota Codified Laws 47-1A-747
- 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.
- 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.
- Proceeding: includes civil suit and criminal, administrative, and investigatory action. See South Dakota Codified Laws 47-1A-140
Source: SL 2005, ch 239, § 135.