<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 47-22-4 - Purposes and authority of corporations--Particular purposes--Exceptions. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2069211Normal { 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.s2069211SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069211CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2069211Normal-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.s2069211DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2069211Normal-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.s2069211000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2069211SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069211SCL-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="s2069211Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-22-4"><span class="s2069211SENU">47-22-4</span></a><span xml:space="preserve" class="s2069211SENU">. </span><span class="s2069211CL">Purposes and authority of corporations--Particular purposes--Exceptions.</span></p><p dir="ltr" class="s2069211Normal-000000"><span class="s2069211DefaultParagraphFont">Corporations may be organized under this chapter for any lawful purpose, including, but not limited to, any one or more of the following purposes:</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(1)    Agricultural;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(2)    Animal husbandry;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(3)    Athletic;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(4)    Benevolent;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(5)    Charitable;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(6)    Civic;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(7)    Cultural;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(8)    Educational;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(9)    Eleemosynary;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(10)    Fraternal;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(11)    Horticultural;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(12)    Literary;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(13)    Patriotic;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(14)    Political;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(15)    Religious;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(16)    Scientific;</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(17)    Social; and</span></p><p dir="ltr" class="s2069211Normal-000001"><span class="s2069211DefaultParagraphFont">(18)    Professional, commercial, industrial, or trade association. However, labor unions, cooperative organizations, other than housing cooperatives, communals, and organizations subject to any of the provisions of the banking laws of this state may not be organized under this chapter. Notwithstanding any other provision of this title, any insurance organization formed under this chapter is subject to Title 58.</span></p><p dir="ltr" class="s2069211Normal"><span xml:space="preserve" class="s2069211000002"> </span></p><p dir="ltr" class="s2069211Normal"><span class="s2069211SCL">Source:</span><span xml:space="preserve" class="s2069211SCL-000003"> SDC 1939, §§ 11.1401, 11.1501, 11.1701, 11.1801; SL 1965, ch 24, § 4; SL 1966, ch 17, § 2; SL 1972, ch 245; SL 1998, ch 271, § 1; SL 2016, ch 221, § 1.</span></p></div></body></html>