47-9A-2. Definition of terms.Terms used in this chapter, unless the context otherwise plainly requires, mean:(1)'Agricultural land,' land used for farming;(2)'Corporation' or any derivation of 'corporation,' both corporations under the South Dakota Business Corporation Act and limited liability companies under the South Dakota Limited Liability Company Act;(2A)'Family,' all descendants born of common parents after the year 1900 as well as their spouses, step-children, and adopted children. Once a person is a family member subsequent events such as death or divorce, do not disqualify that person from being a family member under this chapter.(3)'Family farm,' an unincorporated farming unit owned by one or more persons residing on the farm or actively engaging in farming;(4)'Farming,' the cultivation of land for the production of agricultural crops; livestock or livestock products; poultry or poultry products; milk or dairy products; or fruit or other horticultural products. It shall not include the production of timber or forest products; nor shall it include a contract whereby a processor or distributor of farm products or supplies provides spraying, harvesting or other farm ll not include the production of timber or forest products; nor shall it include a contract whereby a processor or distributor of farm products or supplies provides spraying, harvesting or other farm services;(5)'Shareholders' or 'stockholders,' include the members of a limited liability company; and(6)'Shares' or 'stock,' include membership interests in a limited liability company. Source: SL 1974, ch 294, §3 (1), (3), (4); SL 1993, ch 344, §39GG; SL 2004, ch 276, §1.
South Dakota Legal Code