South Dakota § 47-1A-1501 - Authority to transact business required.

§ 47-1A-1501. Authority to transact business required.

A foreign corporation may not transact business in this state until it obtains a certificate of authority from the Office of the Secretary of State. The following activities, among others, do not constitute transacting business within the meaning of this section:

(1)    Maintaining, defending, or settling any proceeding;

(2)    Holding meetings of the board of directors or shareholders or carrying on other activities concerning internal corporate affairs;

(3)    Maintaining bank accounts;

(4)    Maintaining offices or agencies for the transfer, exchange, and registration of the corporation's own securities or maintaining trustees or depositories with respect to those securities;

(5)    Selling through independent contractors;

(6)    Soliciting or obtaining orders, whether by mail or through employees or agents or otherwise, if the orders require acceptance outside this state before they become contracts;

(7)    Creating or acquiring indebtedness, mortgages, and security interests in real or personal property;

(8)    Securing or collecting debts or enforcing mortgages and security interests in property securing the debts;

(9)    Owning, without more, real or personal property;

(10)    Conducting an isolated transaction that is completed within thirty days and that is not one in the course of repeated transactions of a like nature; and

(11)    Transacting business in interstate commerce.

Source: SL 2005, ch 239, § 347.