South Dakota Statutes
§ 47-9A-15 — Qualifications of authorized small farm corporation.
South Dakota § 47-9A-15
This text of South Dakota § 47-9A-15 (Qualifications of authorized small farm corporation.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.D. Codified Laws § 47-9A-15 (2026).
Text
As used in this chapter, unless the context otherwise plainly requires, "authorized farm corporation" means a corporation whose shareholders do not exceed ten in number, whose shareholders are all natural persons or estates, whose shares are all of one class, and whose revenues from rent, royalties, dividends, interest, and annuities do not exceed twenty percent of its gross receipts.
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Related
Allegheny Corp. v. Richardson, Inc.
463 N.W.2d 678 (South Dakota Supreme Court, 1990)
Legislative History
SL 1974, ch 294, § 3 (2).
Nearby Sections
15
§ 47-1-1
Repealed§ 47-1-3
Repealed§ 47-10-1
Purposes of corporations.§ 47-10-10
Incorporators.§ 47-10-11
Directors--Number and term of office.§ 47-10-13
Accumulation of surplus--Use of surplus.§ 47-10-14
Persons authorized to hold common stock.§ 47-10-18
Nonstockholder members--Duty to lend.§ 47-10-2
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Bluebook (online)
South Dakota § 47-9A-15, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-9A-15.