South Dakota Codified Laws 47-9A-3. Corporate farming and acquisition of interest in farm real estate prohibited
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Except as provided herein, no foreign or domestic corporation may engage in farming; nor may any foreign or domestic corporation, directly or indirectly, own, acquire, or otherwise obtain an interest, whether legal, beneficial or otherwise, in any title to real estate used for farming or capable of being used for farming in this state.
Terms Used In South Dakota Codified Laws 47-9A-3
- 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.
Source: SL 1974, ch 294, § 4; SL 1991, ch 377, § 2.