South Dakota Codified Laws 47-25A-13. Foreign for-profit domestication and conversion
Current as of: 2023 | Check for updates
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A foreign business corporation may become a domestic nonprofit corporation if the domestication and conversion is permitted by the laws of the foreign jurisdiction.
Terms Used In South Dakota Codified Laws 47-25A-13
- 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.
Source: SL 2016, ch 221, § 28.