South Dakota Codified Laws 1-16G-73. Definitions relating to new frontiers program
Terms used in §§ 1-16G-73 to 1-16G-84, inclusive, mean:
(1) “Board,” the Board of Economic Development;
Terms Used In South Dakota Codified Laws 1-16G-73
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- 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
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
(2) “Commissioner,” the commissioner of the Governor’s Office of Economic Development;
(3) “Completed the program” or “completion of the program,” the first date when the program’s schedule of work as outlined in the application required under § 1-16G-75 is finished. In the specific case of a clinical trial for a new pharmaceutical product or medical device, this term means the end date of the clinical trial phase undertaken pursuant to approval by a federal authority;
(4) “Commencement date,” the first date preclinical research or clinical trial activities begin pursuant to a program’s schedule of work or the terms of an approval by a federal authority. For a person already engaged in a program and relocating to South Dakota from a foreign jurisdiction, commencement date means the date of first full-time occupancy of an office or other facility located in this state;
(5) “Department,” the Department of Revenue;
(6) “Federal authority,” an agency or instrumentality of the United States government authorized under law to regulate the activities of the program, including the U.S. Food and Drug Administration and the National Institutes of Health;
(7) “GOED,” the Governor’s Office of Economic Development;
(8) “Person,” any individual, firm, copartnership, joint venture, association, cooperative, nonprofit development corporation, limited liability company, limited liability partnership, corporation, estate, trust, business trust, receiver, or any group or combination acting as a unit. The term also includes any heirs, assigns, or successors in interest thereto;
(9) “Program,” a planned, sustained original research engagement into a new or adapted method, process, product, or technology, or the testing of a new method, process, product, or technology under approval by a federal authority, including a clinical trial for a new pharmaceutical product or medical device;
(10) “Program cost,” the amount paid by the program owner in money, credits, property, or other consideration associated with a program including contract labor, materials, equipment, supplies, or fees.
Source: SL 2016, ch 5, § 1.