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 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.
South Dakota Legal Code