2017 South Dakota Codified Laws
Title 47 - CORPORATIONS
Chapter 15 - Cooperatives--Formation And General Powers
§ 47-15-1 Definitions.
47-15-1. Definitions. Terms used in chapters 47-15 to 47-20, inclusive, mean:
(1) "Articles," articles of incorporation;
(2) "Cooperative," a cooperative corporation which is subject to the provisions of chapters 47-15 to 47-20, inclusive;
(3) "Corporation," a corporation which is not a cooperative;
(4) "Foreign cooperative," a cooperative association organized and operated on a cooperative basis under the laws of any other state, territory, or possession of the United States, or of the District of Columbia or any foreign state, province, or country;
(5) "Member," a person who has been qualified and accepted for membership in a cooperative;
(6) "Patron," any person who purchases products or services provided in the normal course of the business of a cooperative. The term "patron" does not include a telecommunications company which purchases any products or services from a telecommunications cooperative or pays any fees or settlements to a telecommunications cooperative, other than local telecommunications services; and
(7) "Person," includes individuals, firms, partnerships, limited liability companies, unincorporated associations, cooperatives, corporations, and bodies politic.
Source: SDC 1939 § 11.1101; SL 1949, ch 23; SL 1965, ch 23, § 1; SL 1987, ch 342; SL 1994, ch 351, § 120.
