South Dakota Codified Laws 58-5A-6. Information required of corporations, officers, directors and certain owners of voting securities–Violation as misdemeanor
Current as of: 2023 | Check for updates
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If any partner, member, or person is a corporation or the person required to file the statement referred to in § 58-5A-3 is a corporation, the director may require that the information called for by subdivisions 58-5A-4(1) to (14), inclusive, shall be given with respect to a corporation, each officer and director of the corporation, and each person who is directly or indirectly the beneficial owner of more than ten percent of the outstanding voting securities of the corporation.
A violation of this section is a Class 2 misdemeanor.
Attorney's Note
Under the South Dakota Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 2 misdemeanor | up to 30 days | up to $500 |
Terms Used In South Dakota Codified Laws 58-5A-6
- 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
Source: SL 1972, ch 267, § 5; SL 1990, ch 158, § 23; SL 2015, ch 246, § 5.