At least a majority of the common stock of a business development credit corporation shall at all times be held by residents of this state or by persons, firms, or corporations engaged in doing business therein. Common stock shall at all times be held by stockholder members who have their residences or principal places of business in not less than fifteen counties in this state.
S.D. Codified Laws § 47-10-14
Persons authorized to hold common stock
Source: SL 1957, ch 314, § 3; SDC Supp 1960, § 55.6003.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.