Section 47-11D-1.1 - Definition of terms.
47-11D-1.1. Definition of terms. Terms used in this chapter shall also include the following terms:
(1) "Articles of incorporation," 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," any manager of a limited liability company or the members of a limited liability company that does not have managers;
(4) "Incorporation," the members of a limited liability company;
(5) "Shareholders," the members of a limited liability company;
(6) "Shares" or "stock," membership interests in a limited liability company.
Source: SL 2000, ch 222, § 6.