South Dakota Codified Laws 47-22-60. Powers of corporation–Lending–Investing–Property holding
Current as of: 2023 | Check for updates
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Each corporation shall have power to lend money for its corporate purposes, invest and reinvest its funds, and take and hold real and personal property as security for the payment of funds so loaned or invested.
Terms Used In South Dakota Codified Laws 47-22-60
- 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.
Source: SL 1965, ch 24, § 5 (9).