Definition of terms

Terms used in this chapter mean: (1) "Articles of incorporation," includes the articles of organization of a limited liability company; (2) "Corporation," 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 members of a limited liability company; (5) "Shareholders," includes the members of a limited liability company; (6) "Shares" or "stock," includes membership interests in a limited liability company. Source: SL 1993, ch 344 , § 39E.