47-11E-1.1. Definition of terms.
Terms used in this chapter shall also include the following terms:
(1)"Articles of incorporation," 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," any manager of a limited liability company or the members of a limited liability company that does not have managers;
(4)"Incorporation," the members of a limited liability company;
(5)"Shareholders," the members of a limited liability company;
(6)"Shares" or "stock," membership interests in a limited liability company.
Source: SL 2000, ch 222, §3.