47-12-3. Only dentists or qualified entities to have ownership or control of entity.Each director, manager, member, partner, and shareholder of an entity subject to this chapter shall be a dentist licensed pursuant to chapter 36-6A or a qualified entity. No person other than a licensed dentist or a qualified entity may have any part in the ownership or control of an entity subject to this chapter, nor may any proxy to vote any shares of such entity be given to a person who is not so licensed.For purposes of this chapter, the term, qualified entity, means any entity subject to this chapter that meets all of the following standards:(1)Each director, manager, member, partner, and shareholder of the entity shall be a dentist licensed under chapter 36-6A;(2)The entity is registered to do business in this state; and(3)The entity has a certificate of registration under this chapter from the State Board of Dentistry. Source: SL 1963, ch 35, §14; SL 1970, ch 255, §3; SL 2017, ch 194, §4.
South Dakota Legal Code