47-22-68.1. Restrictions on private foundations--Definition of terms.Terms as used in §§47-22-68.1 to 47-22-68.9, inclusive, shall have the following meaning:(1)'Excess business holdings,' as defined in section 4943(c) of the Internal Revenue Code;(2)'Internal Revenue Code,' the United States Internal Revenue Code of 1954, as amended;(3)'Private foundation,' as defined in section 509(a) of the Internal Revenue Code;(4)'Self-dealing,' as defined in section 4941(d) of the Internal Revenue Code;(5)'Taxable expenditure,' as defined in section 4945(d) of the Internal Revenue Code. Source: SL 1972, ch 244, §1.
South Dakota Legal Code