South Dakota Codified Laws 47-25-20. Compliance with local law by surviving corporation–Submission to service of processlocally
If the surviving or new corporation of a merger or consolidation described in § 47-25-18, as the case may be, is to be governed by the laws of any state other than this state, it shall comply with the provisions of chapter 47-27 with respect to foreign corporations if it is to conduct affairs in this state, and in every case it shall file with the secretary of state of this state:
(1) An agreement that it may be served with process in this state in any proceeding for the enforcement of any obligation of any domestic corporation which is a party to such merger or consolidation; and
Terms Used In South Dakota Codified Laws 47-25-20
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Service of process: The service of writs or summonses to the appropriate party.
(2) An irrevocable appointment of the secretary of state of this state as its agent to accept service of process in any such proceeding.
Source: SL 1965, ch 24, § 45 (2).