Every market described in § 37-4-1, whether heretofore or hereafter organized, shall be open to membership, with equal rights and privileges with all other members, to any person, firm, company, corporation, or association desiring to deal in or trade in the commodity or commodities usually dealt in on such market, who shall make application for membership and whose methods of business operation or plan of organization shall not conflict with or contravene any reasonable rule, regulation, or bylaw of such market.

The words “company,” “corporation,” or “association” herein designated shall include cooperative corporations or associations organized under the laws of the State of South Dakota.

Terms Used In South Dakota Codified Laws 37-4-2

  • 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.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2

Source: SDC 1939, § 54.0802.

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