§ 47-25A-1 Definitions.

SD Codified L § 47-25A-1 (2019) (N/A)

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47-25A-1. Definitions. Terms used in this chapter, mean:

(1) "Conversion," a transaction authorized by §§ 47-25A-8 to 47-25A-22, inclusive;

(2) "Converting corporation," the domestic or foreign nonprofit or business corporation that approves a conversion pursuant to §§ 47-25A-8 to 47-25A-22, inclusive, or the applicable laws of the foreign jurisdiction;

(3) "Converting entity," the domestic or foreign entity that approves a conversion pursuant to §§ 47-25A-8 to 47-25A-22, inclusive;

(4) "Domesticated corporation," the domesticating corporation as it continues in existence after a domestication;

(5) "Domesticating corporation," the domestic nonprofit corporation that adopts a plan of domestication pursuant to §§ 47-25A-3 to 47-25A-7, inclusive, or the foreign nonprofit corporation that approves a domestication pursuant to the applicable laws of the foreign jurisdiction;

(6) "Domestication," a transaction authorized by §§ 47-25A-3 to 47-25A-7, inclusive;

(7) "Surviving corporation," the corporation as it continues in existence immediately after consummation of a for-profit conversion pursuant to §§ 47-25A-3 to 47-25A-22, inclusive;

(8) "Surviving entity," the unincorporated entity as it continues in existence immediately after consummation of an entity conversion pursuant to §§ 47-25A-3 to 47-25A-22, inclusive.Source: SL 2016, ch 221, § 16.

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§ 47-25A-2 Required approvals.