Terms Used In South Dakota Codified Laws 40-33-1

  • 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
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
Terms used in this chapter mean:
             (1)      “Due date,” seven days from the date of delivery of produce by the seller to the dealer at wholesale in the case of a sale, and in all cases where produce is consigned, seven days from the date the sale is made by the broker or handler to the dealer at wholesale;
             (2)      “Person,” an individual, firm, corporation, limited liability company, copartnership, or association;
             (3)      “Produce,” includes eggs, poultry, poultry products, or dairy products;
             (4)      “Voluntary extension of credit,” a written agreement between the seller and the dealer at wholesale wherein the time of payment for the purchase price of produce is extended beyond the due date.