A corporation formed under § 47-11A-1 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.
S.D. Codified Laws § 47-11A-3
Powers and privileges restricted to corporate purpose
Source: SL 1970, ch 258, § 1 (3).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.