reglab/housing_qa huggingface dataset:
SD Codified L § 47-9A-23 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 09A - Corporate Farming Restrictions|Section 47-9A-23 - Citation of chapter.

47-9A-23. Citation of chapter.This chapter shall be known and may be cited as the Family Farm Act of 1974. Source: SL 1974, ch 294, §1.
SD Codified L § 47-10-1 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-1 - Purposes of corporations.

47-10-1. Purposes of corporations.Corporations may be organized under this chapter to promote, assist, encourage, and through the cooperative efforts of the institutions and corporations which are members thereof, develop and advance the business prosperity and economy of the state to encourage new industries and to rehabilitate existing industries in the state; to promote and stimulate the expansion of South Dakota business ventures which tend to increase the growth and thrift of the state; to cooperate and act in conjunction with other organizations, the objects of which are the promotion of industrial, agricultural, and recreational developments within the state and to lend to approved and deserving applicants money for the carrying on and development of all kinds of business undertakings in the state, thereby establishing a medium of credit not otherwise readily available therefor. Source: SL 1957, ch 314, §2; SDC Supp 1960, §55.6002.
SD Codified L § 47-10-2 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-2 - Powers of corporations.

47-10-2. Powers of corporations.In furtherance of the purposes set forth in §47-10-1 and in addition to the powers conferred by the general laws relating to business corporations, any business development credit corporation shall, subject to the restrictions and limitations contained in this chapter, have the powers set forth in §§47-10-3 to 47-10-8, inclusive. Source: SL 1957, ch 314, §2; SDC Supp 1960, §55.6002.
SD Codified L § 47-10-3 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-3 - Borrowing--Pledging security for borrowings.

47-10-3. Borrowing--Pledging security for borrowings.Subject to §47-10-2, any business development credit corporation shall have the power to borrow money on secured or unsecured notes from any bank, savings and loan association, trust company, or insurance company which is a nonstockholder member of the corporation and from other nonmember persons, firms, or corporations; and to pledge bonds, notes, and other securities as collateral therefor. Source: SL 1957, ch 314, §2; SDC Supp 1960, §55.6002 (1).
SD Codified L § 47-10-4 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-4 - Lending--Competition with lending institutions prohibited.

47-10-4. Lending--Competition with lending institutions prohibited.Subject to §47-10-2, any business development credit corporation shall have the power to make secured or unsecured loans; but it is not the intention hereof to take from the lending institutions within the state any loans or commitments desired by such institutions generally in the ordinary course of their business. Source: SL 1957, ch 314, §2; SDC Supp 1960, §55.6002 (2).
SD Codified L § 47-10-5 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-5 - Terms and conditions of loans.

47-10-5. Terms and conditions of loans.Subject to §47-10-2, any business development credit corporation shall have the power to establish and regulate the terms and conditions of any loans under §47-10-4 and the charges for interest or service connected therewith. Source: SL 1957, ch 314, §2; SDC Supp 1960, §55.6002 (3).
SD Codified L § 47-10-6 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-6 - Purchase and sale of property.

47-10-6. Purchase and sale of property.Subject to §47-10-2, any business development credit corporation shall have the power to purchase, hold, lease, and otherwise acquire and to convey such real and personal estate as it may acquire in the satisfaction of debts, or pursuant to the terms and conditions of loans, or which it acquires in the foreclosure of mortgages thereon, or upon judgments for debt or in settlements to secure debts. Source: SL 1957, ch 314, §2; SDC Supp 1960, §55.6002 (4).
SD Codified L § 47-10-7 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-7 - Promotion of local development corporations.

47-10-7. Promotion of local development corporations.Subject to §47-10-2, any business development credit corporation shall have the power to promote the establishment of local industrial development corporations in the various communities of the state, to enter into agreements with them, and to cooperate with, assist and otherwise encourage such local foundations. Source: SL 1957, ch 314, §2; SDC Supp 1960, §55.6002 (5).
SD Codified L § 47-10-8 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-8 - Participation in federal programs.

47-10-8. Participation in federal programs.Subject to §47-10-2, any business development credit corporation shall have the power to participate with any duly authorized federal lending agency in the making of loans. Source: SL 1957, ch 314, §2; SDC Supp 1960, §55.6002 (6).
SD Codified L § 47-10-9 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-9 - Lending--Duty to give first opportunity to lending institution.

47-10-9. Lending--Duty to give first opportunity to lending institution.The corporation shall lend money only when credit is not elsewhere readily available. Before granting any loan, the board of directors or a committee thereof shall endeavor, so far as is reasonably possible, to ascertain that the first opportunity to grant such loan has been given to lending institutions which may desire such loans generally in the course of their business. Source: SL 1957, ch 314, §7; SDC Supp 1960, §55.6007.
SD Codified L § 47-10-10 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-10 - Incorporators.

47-10-10. Incorporators.Five or more natural persons of the age of twenty-one years or more, may act as incorporators by signing, acknowledging, filing, and recording articles of incorporation for a business development credit corporation. Source: SL 1957, ch 314, §1; SDC Supp 1960, §55.6001.
SD Codified L § 47-10-11 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-11 - Directors--Number and term of office.

47-10-11. Directors--Number and term of office.The corporate powers of any business development credit corporation shall be exercised by a board of directors. The number of directors and their term of office shall be determined in a manner prescribed in the bylaws. At no time shall there be less than five directors. The initial board of directors shall consist of the incorporators and they shall serve until the first annual meeting. Source: SL 1957, ch 314, §4; SDC Supp 1960, §55.6004.
SD Codified L § 47-10-12 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-12 - Capitalization--Minimum capital before commencing business.

47-10-12. Capitalization--Minimum capital before commencing business.At least twenty-five percent of the capital stock authorized in the articles of incorporation shall be paid into the treasury of the corporation in cash before the corporation shall be authorized to transact any business other than such as relates to its organization. Source: SL 1957, ch 314, §3; SDC Supp 1960, §55.6003.
SD Codified L § 47-10-13 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-13 - Accumulation of surplus--Use of surplus.

47-10-13. Accumulation of surplus--Use of surplus.Any business development credit corporation shall set apart as a surplus not less than ten percent of its net earnings each year until such surplus, with any unimpaired surplus paid in, shall amount to one-half of the capital stock. The surplus shall be kept to secure against losses and contingencies, and whenever it becomes impaired it shall be reimbursed in the manner provided for its accumulation. Source: SL 1957, ch 314, §6; SDC Supp 1960, §55.6006.
SD Codified L § 47-10-14 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-14 - Persons authorized to hold common stock.

47-10-14. Persons authorized to hold common stock.At least a majority of the common stock of a business development credit corporation shall at all times be held by residents of this state or by persons, firms, or corporations engaged in doing business therein. Common stock shall at all times be held by stockholder members who have their residences or principal places of business in not less than fifteen counties in this state. Source: SL 1957, ch 314, §3; SDC Supp 1960, §55.6003.
SD Codified L § 47-10-15 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-15 - First annual meeting--Conditions--Subsequent annual meetings.

47-10-15. First annual meeting--Conditions--Subsequent annual meetings.The first annual meeting of a business development credit corporation shall occur at a date to be fixed by the board of directors as soon as reasonably possible after a minimum of twenty-five percent of the capital stock of the corporation is paid into its treasury and a minimum of ten stockholder members of the corporation have qualified as provided in §47-10-16; and such annual meeting and subsequent annual meetings shall be called and the directors shall be elected in the manner provided in the bylaws. Source: SL 1957, ch 314, §4; SDC Supp 1960, §55.6004.
SD Codified L § 47-10-16 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-16 - Classes of members--Stockholder members--Nonstockholder members.

47-10-16. Classes of members--Stockholder members--Nonstockholder members.There shall be two classes of members in the corporation with voting rights specified in the articles of incorporation.(1)Stockholder members include individuals, corporations, and organizations who qualify by the purchase of common stock.(2)Nonstockholder members include banks, savings and loan associations, trust companies, and insurance companies who qualify by making application to lend funds to the corporation upon call. Source: SL 1957, ch 314, §5; SDC Supp 1960, §55.6005.
SD Codified L § 47-10-17 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-17 - Nonstockholder members--Establishment of line of credit.

47-10-17. Nonstockholder members--Establishment of line of credit.Each nonstockholder member of a business development credit corporation shall establish a line of credit to the corporation as determined in the articles of incorporation. Source: SL 1957, ch 314, §5; SDC Supp 1960, §55.6005 (2) (a).
SD Codified L § 47-10-18 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-18 - Nonstockholder members--Duty to lend.

47-10-18. Nonstockholder members--Duty to lend.All calls of funds which nonstockholder members of a business development credit corporation are committed to lend to the corporation shall be prorated by the corporation among the nonstockholder members in the same proportion that the individual lines of credit bear to the aggregate line of credit. Source: SL 1957, ch 314, §5; SDC Supp 1960, §55.6005 (2) (b).
SD Codified L § 47-10-19 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-19 - Nonstockholder members--Right to withdraw--Conditions.

47-10-19. Nonstockholder members--Right to withdraw--Conditions.Upon written notice given sixty days in advance, a nonstockholder member of a business development credit corporation may withdraw from such membership at the expiration date of such notice and after said expiration date shall cease to exercise any of the powers and privileges incidental to such membership and shall be free of any obligations in connection therewith except those obligations which have accrued or for which commitments have been made before said expiration date. Source: SL 1957, ch 314, §5; SDC Supp 1960, §55.6005 (2) (c).
SD Codified L § 47-10-20 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-20 - Nonstockholder members--Liability for debts.

47-10-20. Nonstockholder members--Liability for debts.Nonstockholder members of a business development credit corporation do not assume any liability for the debts of the corporation. Source: SL 1957, ch 314, §5; SDC Supp 1960, §55.6005 (2) (d).
SD Codified L § 47-10-21 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-21 - Nonstockholder members--Right to share in surplus.

47-10-21. Nonstockholder members--Right to share in surplus.Nonstockholder members of a business development credit corporation shall not share in any surplus of the corporation in excess of the obligations due such nonstockholder members. Source: SL 1957, ch 314, §5; SDC Supp 1960, §55.6005 (2) (e).
SD Codified L § 47-10-22 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-22 - Nonstockholder members--Payment before dissolution of corporation.

47-10-22. Nonstockholder members--Payment before dissolution of corporation.Upon dissolution of a corporation organized under this chapter, obligations due the nonstockholder members are to be paid in full before any payments are made to the stockholder members. Source: SL 1957, ch 314, §5; SDC Supp 1960, §55.6005 (2) (f).
SD Codified L § 47-10-23 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-23 - Legal investments.

47-10-23. Legal investments.Notwithstanding any other statute, the notes or other interest-bearing obligations of any corporation organized under this chapter, issued in accordance with this law and the articles of incorporation and bylaws of the corporation shall be legal investments for the banks, savings and loan associations, trust companies, and insurance companies who become members of the corporation. Source: SL 1957, ch 314, §9; SDC Supp 1960, §55.6009.
SD Codified L § 47-10-24 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 10 - Business Development Credit Corporations|Section 47-10-24 - Applicability of other laws.

47-10-24. Applicability of other laws.The provisions of §§47-1A-101 to 47-1A-863.3, inclusive, §§47-1A-1401 to 47-1A-1440, inclusive, and §§47-1A-1601 to 47-1A-1621.3, inclusive, shall apply to corporations incorporated under this chapter, insofar as they may be applicable and not inconsistent with this chapter. Source: SL 1957, ch 314, §8; SDC Supp 1960, §55.6008; SL 2005, ch 202, §3.
SD Codified L § 47-11-1 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 11 - Medical Corporations|Section 47-11-1 - Medical corporations authorized--Formation and purposes--Number of stockholders, directors, and officers.

47-11-1. Medical corporations authorized--Formation and purposes--Number of stockholders, directors, and officers.One or more persons licensed pursuant to chapter 36-4, hereinafter referred to as the Medical Practice Act, may associate to form a corporation pursuant to the provisions of law pertaining to private corporations to own, operate, and maintain an establishment for the study, diagnosis, and treatment of human ailments and injuries, whether physical or mental, and to promote medical, surgical, and scientific research and knowledge; and for any other purpose incident or necessary thereto; provided medical or surgical treatment, consultation, or advice may be given by employees of the corporation only if they are licensed pursuant to the Medical Practice Act. In any corporation formed under this chapter one or more persons may act as the sole stockholders, directors, or officers of such corporation.Persons licensed pursuant to the Medical Practice Act and corporations formed under chapter 47-11, or any combination thereof, may form a limited liability company to own, operate, and maintain an establishment for the study, diagnosis, and treatment of human ailments and injuries, whether physical or mental, and to promote medical, surgical, and scientific research and knowledge; and for any other purpose incident thereto; provided medical or surgical treatment, consultation, or advice may be given by employees of the limited liability company only if they are licensed pursuant to the Medical Practice Act. Source: SL 1961, ch 29, §2; SL 1971, ch 258; SL 1993, ch 344, §39A; SL 1995, ch 255.
SD Codified L § 47-11-1.1 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 11 - Medical Corporations|Section 47-11-1.1 - Definition of terms.

47-11-1.1. Definition of terms.Terms used in this chapter mean:(1)"Articles of incorporation," includes the articles of organization of a limited liability company;(2)"Corporation," both corporations under the South Dakota Business Corporations Act and limited liability companies under the South Dakota Limited Liability Company Act;(3)"Director" or "officer," includes any manager of a limited liability company or the members of a limited liability company that does not have managers;(4)"Incorporation," includes the members of a limited liability company;(5)"Shareholders," includes the members of a limited liability company;(6)"Shares" or "stock," includes membership interests in a limited liability company. Source: SL 1993, ch 344, §39B.
SD Codified L § 47-11-2 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 11 - Medical Corporations|Section 47-11-2 - Corporate name.

47-11-2. Corporate name.A corporate name shall end with the word "chartered," or, the word "limited," or the abbreviation "Ltd.," or the words "professional association," or the abbreviation "P.C." or "PC". Corporations that were utilizing the designation "P.A." on July 1, 1974, but no others, may continue to use that designation. A limited liability company name shall include the word "professional limited liability company" or the abbreviation "Prof. L.L.C.", "Prof. LLC", "P.L.L. C.", or "PLLC". Source: SL 1961, ch 29, §4; SL 1963, ch 34, §1; SL 1974, ch 295, §1; SL 1993, ch 344, §39C; SL 2020, ch 197, § 1.
SD Codified L § 47-11-3 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 11 - Medical Corporations|Section 47-11-3 - Medical license required for all officers, directors, and shareholders.

47-11-3. Medical license required for all officers, directors, and shareholders.All of the officers, directors, and shareholders of a corporation subject to this chapter shall at all times be persons licensed pursuant to the Medical Practice Act. No person who is not so licensed shall have any part in the ownership or control of such corporation, nor may any proxy to vote any shares of such corporation be given to a person who is not so licensed. Source: SL 1961, ch 29, §14; SL 1963, ch 34, §2.
SD Codified L § 47-11-3.1 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 11 - Medical Corporations|Section 47-11-3.1 - Revocable trust as shareholder--Conditions.

47-11-3.1. Revocable trust as shareholder--Conditions.Notwithstanding any other provisions of this chapter, a revocable trust may be a shareholder in a corporation or limited liability company organized under this chapter, for so long as the grantor of the revocable trust is living and is eligible to be a shareholder of a corporation organized under this chapter. After the death of the grantor, the shares owned by a revocable trust are subject to any divestiture and redemption provisions of this chapter as if the shares were directly owned by the grantor of the trust. Source: SL 2002, ch 205, §1.
SD Codified L § 47-11-4 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 11 - Medical Corporations|Section 47-11-4 - Death of shareholder--Computation of book value.

47-11-4. Death of shareholder--Computation of book value.If the articles of incorporation or bylaws of a corporation subject to this chapter fail to state a price or method of determining a fixed price at which the corporation or its shareholders may purchase the shares of a deceased shareholder or a shareholder no longer qualified to own shares in the corporation, then the price for such shares shall be the book value as of the end of the month immediately preceding the death or disqualification of the shareholder. Book value shall be determined from the books and records of the corporation in accordance with the regular method of accounting used by the corporation. Source: SL 1961, ch 29, §17.
SD Codified L § 47-11-5 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 11 - Medical Corporations|Section 47-11-5 - Contracts for personal services with licensed persons.

47-11-5. Contracts for personal services with licensed persons.Notwithstanding any provision of statute to the contrary any medical corporation licensed under this chapter may enter into contracts for personal services with persons licensed pursuant to the Medical Practice Act for such duration as is agreed to between the parties. Source: SL 1961, ch 29, §14 as added by SL 1963, ch 34, §2.
SD Codified L § 47-11-6 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 11 - Medical Corporations|Section 47-11-6 - Employees subject to Medical Practice Act.

47-11-6. Employees subject to Medical Practice Act.Each individual employee licensed pursuant to the Medical Practice Act who is employed by a corporation subject to this chapter shall remain subject to reprimand or discipline for his conduct under the provisions of the Medical Practice Act. Source: SL 1961, ch 29, §16.
SD Codified L § 47-11-7 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 11 - Medical Corporations|Section 47-11-7 - Certificate of registration required--Application for certificate--Contents.

47-11-7. Certificate of registration required--Application for certificate--Contents.No corporation shall open, operate, or maintain an establishment for any of the purposes set forth in §47-11-1 without a certificate of registration from the Board of Medical and Osteopathic Examiners, hereinafter referred to as the board. Application for such registration shall be made to said board in writing and shall contain the name and address of the corporation and such other information as may be required by the board. Source: SL 1961, ch 29, §5.