South Dakota Codified Laws > Title 47 > Chapter 13B – Professional Corporations for the Practice of Public Accounting
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In South Dakota Codified Laws > Title 47 > Chapter 13B - Professional Corporations for the Practice of Public Accounting
- Articles of incorporation: includes the articles of organization of a limited liability company. See South Dakota Codified Laws 47-13B-1.1
- 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.
- Grantor: The person who establishes a trust and places property into it.
- Incorporation: includes the members of a limited liability company. See South Dakota Codified Laws 47-13B-1.1
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- officer: includes any manager of a limited liability company or the members of a limited liability company that does not have managers. See South Dakota Codified Laws 47-13B-1.1
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
- Shareholders: includes the members of a limited liability company. See South Dakota Codified Laws 47-13B-1.1
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2