South Dakota Codified Laws 42-7A-16. Association or corporation as lottery retailer or video lottery machine operator
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For an association or corporation to be selected as a lottery retailer or video lottery machine operator, the association or corporation shall meet the requirements of subdivisions 42-7A-13(3) and (4), and each officer and director and each stockholder who owns five percent or more of the stock of such association or corporation shall meet the requirements of subdivisions 42-7A-13(1) and (2) and subdivisions 42-7A-14(1) to (5), inclusive.
Terms Used In South Dakota Codified Laws 42-7A-16
- 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.
Source: SL 1987, ch 313, § 16; SL 1989, ch 368, § 8; SL 1993, ch 317, § 7.