South Dakota § 47-1A-142 Number of shareholders.

South Dakota Statutes

§ 47-1A-142 — Number of shareholders.

South Dakota·Title 47 CORPORATIONS·Ch. 47-1 SOUTH DAKOTA BUSINESS CORPORATION ACT

For purposes of this chapter, the following identified as a shareholder in a corporation's current record of shareholders constitutes one shareholder:

(1)Three or fewer co-owners;

(2)A corporation, partnership, trust, estate, or other entity;

(3)The trustees, guardians, custodians, or other fiduciaries of a single trust, estate, or account. For purposes of this chapter, shareholdings registered in substantially similar names constitute one shareholder if it is reasonable to believe that the names represent the same person.

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For purposes of this chapter, the following identified as a shareholder in a corporation's current record of shareholders constitutes one shareholder: (1) Three or fewer co-owners; (2) A corporation, partnership, trust, estate, or other entity; (3) The trustees, guardians, custodians, or other fiduciaries of a single trust, estate, or account. For purposes of this chapter, shareholdings registered in substantially similar names constitute one shareholder if it is reasonable to believe that the names represent the same person.

South Dakota § 47-1A-142 (Number of shareholders.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.