South Dakota Codified Laws 47-9A-2. Definition of terms
Terms used in this chapter, unless the context otherwise plainly requires, mean:
(1) “Agricultural land,” land used for farming;
Terms Used In South Dakota Codified Laws 47-9A-2
- Children: includes children by birth and by adoption. See South Dakota Codified Laws 2-14-2
- Contract: A legal written agreement that becomes binding when signed.
- 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
(2) “Corporation” or any derivation of “corporation,” both corporations under the South Dakota Business Corporation Act and limited liability companies under the South Dakota Limited Liability Company Act;
(2A) “Family,” all descendants born of common parents after the year 1900 as well as their spouses, step–children, and adopted children. Once a person is a family member subsequent events such as death or divorce, do not disqualify that person from being a family member under this chapter.
(3) “Family farm,” an unincorporated farming unit owned by one or more persons residing on the farm or actively engaging in farming;
(4) “Farming,” the cultivation of land for the production of agricultural crops; livestock or livestock products; poultry or poultry products; milk or dairy products; or fruit or other horticultural products. It shall not include the production of timber or forest products; nor shall it include a contract whereby a processor or distributor of farm products or supplies provides spraying, harvesting or other farm services;
(5) “Shareholders” or “stockholders,” include the members of a limited liability company; and
(6) “Shares” or “stock,” include membership interests in a limited liability company.
Source: SL 1974, ch 294, § 3 (1), (3), (4); SL 1993, ch 344, § 39GG; SL 2004, ch 276, § 1.