South Dakota Codified Laws 47-10-4. Lending–Competition with lending institutions prohibited
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Subject to § 47-10-2, any business development credit corporation shall have the power to make secured or unsecured loans; but it is not the intention hereof to take from the lending institutions within the state any loans or commitments desired by such institutions generally in the ordinary course of their business.
Terms Used In South Dakota Codified Laws 47-10-4
- 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 1957, ch 314, § 2; SDC Supp 1960, § 55.6002 (2).