South Dakota Codified Laws 47-24-18. Definitions
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Terms as used in §§ 47-24-19 and 47-24-20 mean:
(1) “Nonprofit corporation,” as defined in § 47-22-1;
Terms Used In South Dakota Codified Laws 47-24-18
- 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.
(2) “Charitable trust,” as defined in section 4947(a)(1) of the United States Internal Revenue Code as amended and in effect on January 1, 2021.
Source: SL 2021, ch 196, § 1.