Upon receipt of an application made pursuant to § 47-11D-8, the board shall make an investigation of the corporation. If the board finds that the incorporators, officers, directors, and shareholders are each certified pursuant to chapter 36-4A and if no disciplinary action is pending before the board against any of them, and if it appears that the corporation will be conducted in compliance with law and rules of the board, the board shall issue, upon payment of a registration fee of fifty dollars, a certificate which shall remain effective until January first following the date of such registration.

Terms Used In South Dakota Codified Laws 47-11D-9

  • 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 1993, ch 337, § 9.

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