South Dakota Codified Laws 43-25-20. Corporate deeds and mortgages–Execution, assignment, and release by officers ofcorporation–Acknowledgment
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Any officer of a corporation, authorized by the charter or articles of incorporation, the bylaws, or the consent of the stockholders or of the board of directors of such corporation, may execute deeds, mortgages, assignments of mortgage, releases of mortgage, and all other instruments in the name of such corporation and acknowledge the same on behalf of such corporation.
Terms Used In South Dakota Codified Laws 43-25-20
- 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.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Source: SL 1905, ch 1, § 1; SL 1907, ch 2, § 1; RC 1919, § 544; SDC 1939, § 51.1404.