South Dakota Codified Laws 47-25A-1. Definitions
Terms used in this chapter, mean:
(1) “Conversion,” a transaction authorized by §§ 47-25A-8 to 47-25A-22, inclusive;
Terms Used In South Dakota Codified Laws 47-25A-1
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(2) “Converting corporation,” the domestic or foreign nonprofit or business corporation that approves a conversion pursuant to §§ 47-25A-8 to 47-25A-22, inclusive, or the applicable laws of the foreign jurisdiction;
(3) “Converting entity,” the domestic or foreign entity that approves a conversion pursuant to §§ 47-25A-8 to 47-25A-22, inclusive;
(4) “Domesticated corporation,” the domesticating corporation as it continues in existence after a domestication;
(5) “Domesticating corporation,” the domestic nonprofit corporation that adopts a plan of domestication pursuant to §§ 47-25A-3 to 47-25A-7, inclusive, or the foreign nonprofit corporation that approves a domestication pursuant to the applicable laws of the foreign jurisdiction;
(6) “Domestication,” a transaction authorized by §§ 47-25A-3 to 47-25A-7, inclusive;
(7) “Surviving corporation,” the corporation as it continues in existence immediately after consummation of a for-profit conversion pursuant to §§ 47-25A-3 to 47-25A-22, inclusive;
(8) “Surviving entity,” the unincorporated entity as it continues in existence immediately after consummation of an entity conversion pursuant to §§ 47-25A-3 to 47-25A-22, inclusive.
Source: SL 2016, ch 221, § 16.