South Dakota § 47-10-14 - Persons authorized to hold common stock.
Full text of South Dakota South Dakota Codified Laws § 47-10-14 — Persons authorized to hold common stock., with citation guidance and answers to common questions.
§ 47-10-14. Persons authorized to hold common stock.
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.
Source: SL 1957, ch 314, § 3; SDC Supp 1960, § 55.6003.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 47-10-14
What does South Dakota Codified Laws § 47-10-14 cover?
Section 47-10-14 ("Persons authorized to hold common stock.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 47-10-14?
A common citation format is "South Dakota Codified Laws § 47-10-14" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 47-10-14 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.