The name of a cooperative shall include the words “electric” and “cooperative,” and the abbreviation “Inc.,” unless in an affidavit made by its president or vice–president, and filed with the secretary of state, or in an affidavit made by a person signing articles of incorporation, consolidation, merger, or conversion, which relate to such cooperative, and filed, together with any such articles, with the secretary of state, it shall appear that the cooperative desires to do business in another state and is or would be precluded therefrom by reason of the inclusion of such words or either thereof in its name; provided, however, that this section shall not apply to any corporation which becomes subject to this chapter by complying with the provisions of §§ 47-21-22 to 47-21-24, inclusive, or § 47-21-74 and which elects to retain a corporate name which does not comply with this section.

Terms Used In South Dakota Codified Laws 47-21-3

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • 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: SL 1947, ch 33, § 5; SDC Supp 1960, § 11.2205.

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