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2018 South Dakota Codified Laws
Title 47 - CORPORATIONS
Chapter 09A - Corporate Farming Restrictions
§ 47-9A-15 Qualifications of authorized small farm corporation.
Universal Citation: SD Codified L § 47-9A-15 (2018)
47-9A-15. Qualifications of authorized small farm corporation. 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.
Source: SL 1974, ch 294, ยง 3 (2).
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