South Dakota Codified Laws 58-33-48. Definition of terms
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When used in §§ 58-33-47 to 58-33-57, inclusive:
(1) “Residents” shall mean and include any person, partnership or corporation, domestic, alien or foreign.
Terms Used In South Dakota Codified Laws 58-33-48
- 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.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
(2) “Unfair Trade Practice Act” shall mean §§ 58-33-1 to 58-33-46.1, inclusive, relating to unfair methods of competition and unfair and deceptive acts and practices in the business of insurance.
Source: SL 1966, ch 111, ch 13, § 27.