There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 47-1A-142 — Number of shareholders.PART 2. INCORPORATION
47-1A-142. Number of shareholders. 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.
Source: SL 2005, ch 239, § 26.
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