<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-11B-1.1 - Definition of terms. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068597Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068597SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068597CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068597Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068597DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068597Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2068597000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068597SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068597SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2068597Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-11B-1.1"><span class="s2068597SENU">47-11B-1.1</span></a><span xml:space="preserve" class="s2068597SENU">. </span><span class="s2068597CL">Definition of terms.</span></p><p dir="ltr" class="s2068597Normal-000000"><span class="s2068597DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2068597Normal-000001"><span class="s2068597DefaultParagraphFont">(1)    "Articles of incorporation," includes the articles of organization of a limited liability company;</span></p><p dir="ltr" class="s2068597Normal-000001"><span class="s2068597DefaultParagraphFont">(2)    "Corporation," both corporations under the South Dakota Business Corporations Act and limited liability companies under the South Dakota Limited Liability Company Act;</span></p><p dir="ltr" class="s2068597Normal-000001"><span class="s2068597DefaultParagraphFont">(3)    "Director" or "officer," includes any manager of a limited liability company or the members of a limited liability company that does not have managers;</span></p><p dir="ltr" class="s2068597Normal-000001"><span class="s2068597DefaultParagraphFont">(4)    "Incorporation," includes the members of a limited liability company;</span></p><p dir="ltr" class="s2068597Normal-000001"><span class="s2068597DefaultParagraphFont">(5)    "Shareholders," includes the members of a limited liability company;</span></p><p dir="ltr" class="s2068597Normal-000001"><span class="s2068597DefaultParagraphFont">(6)    "Shares" or "stock," includes membership interests in a limited liability company.</span></p><p dir="ltr" class="s2068597Normal"><span xml:space="preserve" class="s2068597000002"> </span></p><p dir="ltr" class="s2068597Normal"><span class="s2068597SCL">Source:</span><span xml:space="preserve" class="s2068597SCL-000003"> SL 1993, ch 344, § 39H.</span></p></div></body></html>