Definition of terms

As used in this chapter: (1) "Articles of incorporation," includes the articles of organization of a limited liability company; (2) "Corporation," includes both corporations under the South Dakota Business Corporations Act and limited liability companies under the South Dakota Limited Liability Company Act; (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; (4) "Incorporation," includes the organization of a limited liability company; (5) "Shareholders," includes the members of a limited liability company; and (6) "Shares," includes membership interests in a limited liability company. Source: SL 2022, ch 167, § 1.