South Dakota Codified Laws 58-27-109. Institution defined
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For purposes of this chapter, an institution is a corporation, a joint stock company, an association, a trust, a business partnership, a business joint venture, or a similar entity.
Terms Used In South Dakota Codified Laws 58-27-109
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Source: SL 1994, ch 384, § 4.