<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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2080982Normal { text-align: center; 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.s2080982HG4 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080982DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080982HG4C { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2080982Normal-000000 { 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.s2080982DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2080982B { margin-left: 1.38in; text-indent: -1.38in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } </style></head><body><div><p dir="ltr" class="s2080982Normal"><span xml:space="preserve" class="s2080982HG4">CHAPTER </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B"><span class="s2080982DefaultParagraphFont">47-13B</span></a></p><p dir="ltr" class="s2080982Normal"><span xml:space="preserve" class="s2080982HG4C">PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </span></p><p dir="ltr" class="s2080982Normal-000000"><span class="s2080982DefaultParagraphFont-000001"></span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-1"><span class="s2080982DefaultParagraphFont">47-13B-1</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Formation of corporations or limited liability companies authorized. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-1.1"><span class="s2080982DefaultParagraphFont">47-13B-1.1</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Definition of terms. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-2"><span class="s2080982DefaultParagraphFont">47-13B-2</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Purpose of corporation. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-3"><span class="s2080982DefaultParagraphFont">47-13B-3</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Powers exercised only for authorized purpose--Incompatible services prohibited. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-4"><span class="s2080982DefaultParagraphFont">47-13B-4</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Corporate name. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-5"><span class="s2080982DefaultParagraphFont">47-13B-5</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-5"><span class="s2080982DefaultParagraphFont">47-13B-5</span></a><span class="s2080982DefaultParagraphFont">. Repealed by SL 2002, ch 179, § 72</span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-5.1"><span class="s2080982DefaultParagraphFont">47-13B-5.1</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Revocable trust as shareholder--Conditions. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-6"><span class="s2080982DefaultParagraphFont">47-13B-6</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Disposition of shares held by person no longer qualified. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-7"><span class="s2080982DefaultParagraphFont">47-13B-7</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Qualifications of directors and officers--Restrictions on powers of lay directors and officers. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-8"><span class="s2080982DefaultParagraphFont">47-13B-8</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-8"><span class="s2080982DefaultParagraphFont">47-13B-8</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont"> to 47-13B-12. Repealed by SL 2005, ch 240, § 10.</span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-12.1"><span class="s2080982DefaultParagraphFont">47-13B-12.1</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Personal liability of shareholders, directors, and officers of professional corporations or members or managers of limited liability companies limited for corporate or individual obligations--Exception. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-12.2"><span class="s2080982DefaultParagraphFont">47-13B-12.2</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Amendment of articles of incorporation to be consistent with law. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-12.3"><span class="s2080982DefaultParagraphFont">47-13B-12.3</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Application of repealed provisions to acts, errors, or omissions occurring before July 1, 2005. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-13"><span class="s2080982DefaultParagraphFont">47-13B-13</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Articles of incorporation filed with board of accountancy--List of shareholders and professional employees--Notice of changes. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-14"><span class="s2080982DefaultParagraphFont">47-13B-14</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Restrictions on corporate practice of accounting. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-15"><span class="s2080982DefaultParagraphFont">47-13B-15</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Pension and insurance plans for employees. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-16"><span class="s2080982DefaultParagraphFont">47-13B-16</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Corporation held to professional standards of conduct--Violation as ground for suspension or revocation of professional certificate. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-17"><span class="s2080982DefaultParagraphFont">47-13B-17</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Professional obligations unchanged by incorporation--Personal responsibility for corporate acts in violation. </span></p><p dir="ltr" class="s2080982B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-18"><span class="s2080982DefaultParagraphFont">47-13B-18</span></a><span xml:space="preserve" class="s2080982DefaultParagraphFont">    Accountant-client privileges unchanged. </span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068771Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068771SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068771CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068771Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068771DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068771000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068771SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068771SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068771Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-1"><span class="s2068771SENU">47-13B-1</span></a><span xml:space="preserve" class="s2068771SENU">. </span><span class="s2068771CL">Formation of corporations or limited liability companies authorized.</span></p><p dir="ltr" class="s2068771Normal-000000"><span class="s2068771DefaultParagraphFont">Public accountants may form professional service corporations or limited liability companies for the practice of public accounting under the South Dakota Business Corporation Act as amended, or the South Dakota Limited Liability Act as amended, respectively, providing that such corporations and limited liability companies are organized and operated in accordance with the provisions of this chapter.</span></p><p dir="ltr" class="s2068771Normal"><span xml:space="preserve" class="s2068771000001"> </span></p><p dir="ltr" class="s2068771Normal"><span class="s2068771SCL">Source:</span><span xml:space="preserve" class="s2068771SCL-000002"> SL 1971, ch 260, § 1; SL 1993, ch 344, § 39Y.</span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068772Normal { 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.s2068772SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068772CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068772Normal-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.s2068772DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2068772Normal-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.s2068772000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068772SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068772SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068772Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-1.1"><span class="s2068772SENU">47-13B-1.1</span></a><span xml:space="preserve" class="s2068772SENU">. </span><span class="s2068772CL">Definition of terms.</span></p><p dir="ltr" class="s2068772Normal-000000"><span class="s2068772DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2068772Normal-000001"><span class="s2068772DefaultParagraphFont">(1)    "Articles of incorporation," includes the articles of organization of a limited liability company;</span></p><p dir="ltr" class="s2068772Normal-000001"><span class="s2068772DefaultParagraphFont">(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="s2068772Normal-000001"><span class="s2068772DefaultParagraphFont">(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="s2068772Normal-000001"><span class="s2068772DefaultParagraphFont">(4)    "Incorporation," includes the members of a limited liability company;</span></p><p dir="ltr" class="s2068772Normal-000001"><span class="s2068772DefaultParagraphFont">(5)    "Shareholders," includes the members of a limited liability company;</span></p><p dir="ltr" class="s2068772Normal-000001"><span class="s2068772DefaultParagraphFont">(6)    "Shares" or "stock," includes membership interests in a limited liability company.</span></p><p dir="ltr" class="s2068772Normal"><span xml:space="preserve" class="s2068772000002"> </span></p><p dir="ltr" class="s2068772Normal"><span class="s2068772SCL">Source:</span><span xml:space="preserve" class="s2068772SCL-000003"> SL 1993, ch 344, § 39Z.</span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068773Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068773SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068773CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068773Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068773DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068773000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068773SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068773SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068773Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-2"><span class="s2068773SENU">47-13B-2</span></a><span xml:space="preserve" class="s2068773SENU">. </span><span class="s2068773CL">Purpose of corporation.</span></p><p dir="ltr" class="s2068773Normal-000000"><span class="s2068773DefaultParagraphFont">The corporation shall be organized solely for the purpose of conducting the practice of accountancy.</span></p><p dir="ltr" class="s2068773Normal"><span xml:space="preserve" class="s2068773000001"> </span></p><p dir="ltr" class="s2068773Normal"><span class="s2068773SCL">Source:</span><span xml:space="preserve" class="s2068773SCL-000002"> SL 1971, ch 260, § 1 (2); SL 2002, ch 179, § 71.</span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068774Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068774SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068774CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068774Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068774DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068774000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068774SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068774SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068774Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-3"><span class="s2068774SENU">47-13B-3</span></a><span xml:space="preserve" class="s2068774SENU">. </span><span class="s2068774CL">Powers exercised only for authorized purpose--Incompatible services prohibited.</span></p><p dir="ltr" class="s2068774Normal-000000"><span class="s2068774DefaultParagraphFont">The corporation may exercise the powers and privileges conferred upon corporations by the laws of the State of South Dakota only in furtherance of and subject to its corporate purpose, the practice of accountancy in the State of South Dakota, and shall not provide services that are incompatible with the practice of public accountancy.</span></p><p dir="ltr" class="s2068774Normal"><span xml:space="preserve" class="s2068774000001"> </span></p><p dir="ltr" class="s2068774Normal"><span class="s2068774SCL">Source:</span><span xml:space="preserve" class="s2068774SCL-000002"> SL 1971, ch 260, § 1 (3).</span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2080562Normal { 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.s2080562SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080562CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2080562Statute { 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.s2080562DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080562000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080562DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080562SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2080562Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-4"><span class="s2080562SENU">47-13B-4</span></a><span xml:space="preserve" class="s2080562SENU">. </span><span class="s2080562CL">Corporate name.</span></p><p dir="ltr" class="s2080562Statute"><span class="s2080562DefaultParagraphFont">The name of the corporation shall contain words "professional company," or "professional corporation" or abbreviations thereof, such as "Prof. Co.," "Prof. Corp.," "P.C.", "PC", "Incorporated," "Corporation," "Corp.," "Association," "Ltd.," "Chartered," or "Inc." The name of a limited liability company shall contain the words "professional limited liability company" or the abbreviation "Prof. L.L.C.", "Prof. LLC", "P.L.L.C.", or "PLLC". In addition, any name of a corporation or limited liability company shall always meet the ethical standards established for the names of professional accounting firms by the board of the State of South Dakota, and in accordance with the code of professional ethics of the American Institute of Certified Public Accountants.</span></p><p dir="ltr" class="s2080562Normal"><span xml:space="preserve" class="s2080562000000"> </span></p><p dir="ltr" class="s2080562Normal"><span xml:space="preserve" class="s2080562DefaultParagraphFont-000001">Source: </span><span class="s2080562SCL">SL 1971, ch 260, § 1 (1); SL 1993, ch 344, § 39AA; SL 1994, ch 305, § 8; SL 2020, ch 197, § 10.</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING 47-13B-5 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 47-13B-5 "> <META NAME="Description" Content="South Dakota Codified Laws 47-13B-5"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 47-13B-5. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2002, ch 179, &#167;&nbsp;72<p> </BODY> </HTML> <br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068777Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068777SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068777CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068777Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068777DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068777000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068777SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068777SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068777Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-5.1"><span class="s2068777SENU">47-13B-5.1</span></a><span xml:space="preserve" class="s2068777SENU">. </span><span class="s2068777CL">Revocable trust as shareholder--Conditions.</span></p><p dir="ltr" class="s2068777Normal-000000"><span class="s2068777DefaultParagraphFont">Notwithstanding any other provisions of this chapter, a revocable trust may be a shareholder in a corporation or limited liability company organized under this chapter, for so long as the grantor of the revocable trust is living and is eligible to be a shareholder of a corporation organized under this chapter. After the death of the grantor, the shares owned by a revocable trust are subject to any divestiture and redemption provisions of this chapter as if the shares were directly owned by the grantor of the trust.</span></p><p dir="ltr" class="s2068777Normal"><span xml:space="preserve" class="s2068777000001"> </span></p><p dir="ltr" class="s2068777Normal"><span class="s2068777SCL">Source:</span><span xml:space="preserve" class="s2068777SCL-000002"> SL 2002, ch 205, § 10.</span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068778Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068778SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068778CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068778Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068778DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068778000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068778SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068778SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068778Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-6"><span class="s2068778SENU">47-13B-6</span></a><span xml:space="preserve" class="s2068778SENU">. </span><span class="s2068778CL">Disposition of shares held by person no longer qualified.</span></p><p dir="ltr" class="s2068778Normal-000000"><span xml:space="preserve" class="s2068778DefaultParagraphFont">Provisions shall be made requiring any shareholder who ceases to be eligible to be a shareholder to dispose of all his shares forthwith, either to the corporation or to any person having the qualifications prescribed in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-5"><span class="s2068778DefaultParagraphFont">47-13B-5</span></a><span class="s2068778DefaultParagraphFont">.</span></p><p dir="ltr" class="s2068778Normal"><span xml:space="preserve" class="s2068778000001"> </span></p><p dir="ltr" class="s2068778Normal"><span class="s2068778SCL">Source:</span><span xml:space="preserve" class="s2068778SCL-000002"> SL 1971, ch 260, § 1 (5).</span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068779Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068779SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068779CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068779Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068779DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068779000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068779SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068779SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068779Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-7"><span class="s2068779SENU">47-13B-7</span></a><span xml:space="preserve" class="s2068779SENU">. </span><span class="s2068779CL">Qualifications of directors and officers--Restrictions on powers of lay directors and officers.</span></p><p dir="ltr" class="s2068779Normal-000000"><span class="s2068779DefaultParagraphFont">The principal executive officer shall be a shareholder and a director and, to the extent possible, all other directors and principal officers shall be shareholders, and lay directors and officers shall not exercise any authority whatsoever over professional matters.</span></p><p dir="ltr" class="s2068779Normal"><span xml:space="preserve" class="s2068779000001"> </span></p><p dir="ltr" class="s2068779Normal"><span class="s2068779SCL">Source:</span><span xml:space="preserve" class="s2068779SCL-000002"> SL 1971, ch 260, § 1 (6).</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING 47-13B-8 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 47-13B-8 "> <META NAME="Description" Content="South Dakota Codified Laws 47-13B-8"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 47-13B-8 to 47-13B-12. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2005, ch 240, &#167;&nbsp;10.<p> </BODY> </HTML> <br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068781Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068781SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068781CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068781Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068781DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068781000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068781SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068781SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068781Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-12.1"><span class="s2068781SENU">47-13B-12.1</span></a><span xml:space="preserve" class="s2068781SENU">. </span><span class="s2068781CL">Personal liability of shareholders, directors, and officers of professional corporations or members or managers of limited liability companies limited for corporate or individual obligations--Exception.</span></p><p dir="ltr" class="s2068781Normal-000000"><span xml:space="preserve" class="s2068781DefaultParagraphFont">An obligation of a professional corporation or limited liability company formed pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-11A"><span class="s2068781DefaultParagraphFont">47-11A</span></a><span xml:space="preserve" class="s2068781DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-11B"><span class="s2068781DefaultParagraphFont">47-11B</span></a><span xml:space="preserve" class="s2068781DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-11C"><span class="s2068781DefaultParagraphFont">47-11C</span></a><span xml:space="preserve" class="s2068781DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-11D"><span class="s2068781DefaultParagraphFont">47-11D</span></a><span xml:space="preserve" class="s2068781DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-11E"><span class="s2068781DefaultParagraphFont">47-11E</span></a><span xml:space="preserve" class="s2068781DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13A"><span class="s2068781DefaultParagraphFont">47-13A</span></a><span xml:space="preserve" class="s2068781DefaultParagraphFont">, or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B"><span class="s2068781DefaultParagraphFont">47-13B</span></a><span class="s2068781DefaultParagraphFont">, whether arising in contract, tort, or otherwise, is the obligation of the professional corporation or limited liability company and the individual whose act or omission gives rise to the obligation. No shareholder, director, or officer of a professional corporation or member or manager of a limited liability company is personally liable, directly or indirectly, by way of contribution or otherwise, for such obligation based solely on such person's capacity as a shareholder, director, or officer of a professional corporation or member or manager of a limited liability company. This limitation of liability does not extend to amounts owed to the State of South Dakota or its political subdivisions for any taxes, or any penalty or interest on such taxes.</span></p><p dir="ltr" class="s2068781Normal"><span xml:space="preserve" class="s2068781000001"> </span></p><p dir="ltr" class="s2068781Normal"><span class="s2068781SCL">Source:</span><span xml:space="preserve" class="s2068781SCL-000002"> SL 2005, ch 240, § 1.</span></p><p dir="ltr" class="s2068781Normal"><span xml:space="preserve" class="s2068781000001"> </span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068782Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068782SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068782CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068782Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068782DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068782000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068782SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068782SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068782Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-12.2"><span class="s2068782SENU">47-13B-12.2</span></a><span xml:space="preserve" class="s2068782SENU">. </span><span class="s2068782CL">Amendment of articles of incorporation to be consistent with law.</span></p><p dir="ltr" class="s2068782Normal-000000"><span class="s2068782DefaultParagraphFont">Any professional corporation or limited liability company may amend its articles of incorporation to be consistent with SL 2005, ch 240.</span></p><p dir="ltr" class="s2068782Normal"><span xml:space="preserve" class="s2068782000001"> </span></p><p dir="ltr" class="s2068782Normal"><span class="s2068782SCL">Source:</span><span xml:space="preserve" class="s2068782SCL-000002"> SL 2005, ch 240, § 2.</span></p><p dir="ltr" class="s2068782Normal"><span xml:space="preserve" class="s2068782000001"> </span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068783Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068783SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068783CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068783Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068783DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068783000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068783SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068783SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068783Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-12.3"><span class="s2068783SENU">47-13B-12.3</span></a><span xml:space="preserve" class="s2068783SENU">. </span><span class="s2068783CL">Application of repealed provisions to acts, errors, or omissions occurring before July 1, 2005.</span></p><p dir="ltr" class="s2068783Normal-000000"><span class="s2068783DefaultParagraphFont">The repealed provisions contained in SL 2005, ch 240, that limited the liability of a shareholder, director, or officer of a professional corporation or member or manager of a limited liability company by limiting or eliminating the joint and several liability of such person for any act, error, or omission of an employee of the professional corporation or limited liability company by maintaining professional liability insurance meeting certain standards, shall remain in effect for any act, error, or omission, whether arising in contract, tort, or otherwise, occurring before July 1, 2005.</span></p><p dir="ltr" class="s2068783Normal"><span xml:space="preserve" class="s2068783000001"> </span></p><p dir="ltr" class="s2068783Normal"><span class="s2068783SCL">Source:</span><span xml:space="preserve" class="s2068783SCL-000002"> SL 2005, ch 240, § 11.</span></p><p dir="ltr" class="s2068783Normal"><span xml:space="preserve" class="s2068783000001"> </span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068784Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068784SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068784CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068784Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068784DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068784000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068784SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068784SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068784Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-13"><span class="s2068784SENU">47-13B-13</span></a><span xml:space="preserve" class="s2068784SENU">. </span><span class="s2068784CL">Articles of incorporation filed with board of accountancy--List of shareholders and professional employees--Notice of changes.</span></p><p dir="ltr" class="s2068784Normal-000000"><span class="s2068784DefaultParagraphFont">A copy certified by the secretary of state of the articles of incorporation of any corporation formed pursuant to this chapter shall be filed with the secretary of the South Dakota Board of Accountancy, together with a certified copy of all amendments thereto. At the time of filing the original articles with the secretary, the corporation shall file with him a written list of shareholders setting forth the names and addresses of each and a written list containing the names and addresses for all persons who are not shareholders who are employed by the corporation and who are authorized to practice accounting in South Dakota. Within thirty days after any change in such shareholders or employees a written list setting forth the information required by the preceding sentence shall be filed with the said secretary.</span></p><p dir="ltr" class="s2068784Normal"><span xml:space="preserve" class="s2068784000001"> </span></p><p dir="ltr" class="s2068784Normal"><span class="s2068784SCL">Source:</span><span xml:space="preserve" class="s2068784SCL-000002"> SL 1971, ch 260, § 2.</span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068785Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068785SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068785CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068785Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068785DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068785000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068785SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068785SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068785Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-14"><span class="s2068785SENU">47-13B-14</span></a><span xml:space="preserve" class="s2068785SENU">. </span><span class="s2068785CL">Restrictions on corporate practice of accounting.</span></p><p dir="ltr" class="s2068785Normal-000000"><span class="s2068785DefaultParagraphFont">Except as provided in this chapter, corporations shall not engage in the practice of accounting. Professional service corporations organized and operated in accordance with the provisions of this chapter shall not be deemed lay agencies within the meaning of the laws of this state and the rules and regulations of the South Dakota Board of Accountancy or the code of professional ethics of the American Institute of Certified Public Accountants.</span></p><p dir="ltr" class="s2068785Normal"><span xml:space="preserve" class="s2068785000001"> </span></p><p dir="ltr" class="s2068785Normal"><span class="s2068785SCL">Source:</span><span xml:space="preserve" class="s2068785SCL-000002"> SL 1971, ch 260, § 4.</span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068786Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068786SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068786CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068786Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068786DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068786DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068786000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068786SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068786SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068786Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-15"><span class="s2068786SENU">47-13B-15</span></a><span xml:space="preserve" class="s2068786SENU">. </span><span class="s2068786CL">Pension and insurance plans for employees.</span></p><p dir="ltr" class="s2068786Normal-000000"><span class="s2068786DefaultParagraphFont">A professional service corporation may adopt a pension, profit</span><span class="s2068786DefaultParagraphFont-000001">-</span><span class="s2068786DefaultParagraphFont">sharing (whether cash or deferred), health and accident, insurance, or welfare plan for all or part of its employees including lay employees, providing that such plan does not require or result in the sharing of specific or identifiable fees with any lay employees and any payments made to lay employees or into any such plan in behalf of lay employees are based upon their compensation or length of service, or both, rather than the amount of fees or income received.</span></p><p dir="ltr" class="s2068786Normal"><span xml:space="preserve" class="s2068786000002"> </span></p><p dir="ltr" class="s2068786Normal"><span class="s2068786SCL">Source:</span><span xml:space="preserve" class="s2068786SCL-000003"> SL 1971, ch 260, § 3.</span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068787Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068787SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068787CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068787Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068787DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068787000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068787SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068787SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068787Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-16"><span class="s2068787SENU">47-13B-16</span></a><span xml:space="preserve" class="s2068787SENU">. </span><span class="s2068787CL">Corporation held to professional standards of conduct--Violation as ground for suspension or revocation of professional certificate.</span></p><p dir="ltr" class="s2068787Normal-000000"><span class="s2068787DefaultParagraphFont">The corporation shall do nothing which if done by an accountant employed by it would violate the standards of professional conduct established for such accountant pursuant to law, including rules of the South Dakota State Board of Accountancy. The corporation shall at all times comply with the standards of professional conduct established by the South Dakota State Board of Accountancy and the provisions of this chapter and the American Institute of Certified Public Accountants. Any violation of this chapter by the corporation shall be grounds for the South Dakota State Board of Accountancy to suspend or revoke or refuse to renew the license or certificate of any of its members' right to practice accountancy.</span></p><p dir="ltr" class="s2068787Normal"><span xml:space="preserve" class="s2068787000001"> </span></p><p dir="ltr" class="s2068787Normal"><span class="s2068787SCL">Source:</span><span xml:space="preserve" class="s2068787SCL-000002"> SL 1971, ch 260, § 2.</span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068788Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068788SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068788CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068788Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068788DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068788000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068788SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068788SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2068788Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-17"><span class="s2068788SENU">47-13B-17</span></a><span xml:space="preserve" class="s2068788SENU">. </span><span class="s2068788CL">Professional obligations unchanged by incorporation--Personal responsibility for corporate acts in violation.</span></p><p dir="ltr" class="s2068788Normal-000000"><span class="s2068788DefaultParagraphFont">Nothing in this chapter shall be deemed to diminish or change the obligation of each accountant employed by the corporation to conduct his practice in accordance with the rules and regulations of the South Dakota State Board of Accountancy or by the code of professional ethics of the American Institute of Certified Public Accountants; any accountant who by act or omission causes the corporation to act or fail to act in a way which violates such standards of professional conduct, including any provision of this chapter, shall be deemed personally responsible for such act or omission and shall be subject to discipline therefor.</span></p><p dir="ltr" class="s2068788Normal"><span xml:space="preserve" class="s2068788000001"> </span></p><p dir="ltr" class="s2068788Normal"><span class="s2068788SCL">Source:</span><span xml:space="preserve" class="s2068788SCL-000002"> SL 1971, ch 260, § 2.</span></p></div></body></html><br /><hr><br /><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 47-13B - PROFESSIONAL CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2068789Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068789SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068789CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068789CL-000000 { font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2068789Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2068789DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068789DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068789000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2068789SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2068789SCL-000004 { 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="s2068789Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-13B-18"><span class="s2068789SENU">47-13B-18</span></a><span xml:space="preserve" class="s2068789SENU">. </span><span class="s2068789CL">Accountant</span><span class="s2068789CL-000000">-</span><span class="s2068789CL">client privileges unchanged.</span></p><p dir="ltr" class="s2068789Normal-000001"><span class="s2068789DefaultParagraphFont">Nothing in this chapter shall be deemed to modify the accountant</span><span class="s2068789DefaultParagraphFont-000002">-</span><span class="s2068789DefaultParagraphFont">client privilege established by the Legislature and any comparable common privilege.</span></p><p dir="ltr" class="s2068789Normal"><span xml:space="preserve" class="s2068789000003"> </span></p><p dir="ltr" class="s2068789Normal"><span class="s2068789SCL">Source:</span><span xml:space="preserve" class="s2068789SCL-000004"> SL 1971, ch 260, § 2.</span></p></div></body></html>