47-11-3. Medical license required for all officers, directors, and shareholders.
All of the officers, directors, and shareholders of a corporation subject to this chapter shall at all times be persons licensed pursuant to the Medical Practice Act. No person who is not so licensed shall have any part in the ownership or control of such corporation, nor may any proxy to vote any shares of such corporation be given to a person who is not so licensed.
Source: SL 1961, ch 29, §14; SL 1963, ch 34, §2.
Structure South Dakota Codified Laws
Chapter 11 - Medical Corporations
Section 47-11-1.1 - Definition of terms.
Section 47-11-2 - Corporate name.
Section 47-11-3 - Medical license required for all officers, directors, and shareholders.
Section 47-11-3.1 - Revocable trust as shareholder--Conditions.
Section 47-11-4 - Death of shareholder--Computation of book value.
Section 47-11-5 - Contracts for personal services with licensed persons.
Section 47-11-6 - Employees subject to Medical Practice Act.
Section 47-11-7 - Certificate of registration required--Application for certificate--Contents.
Section 47-11-9 - Posting of certificate required.
Section 47-11-10 - Amending certificate upon change of location.
Section 47-11-11 - Certificate not assignable.
Section 47-11-12 - Annual renewal of certificate--Conditions.
Section 47-11-13 - Suspension or revocation of certificate--Grounds.
Section 47-11-14 - Notice and hearing required--Contents of notice.
Section 47-11-15 - Appeal from denial of certificate--Power of court on appeal.
Section 47-11-16 - Service of notice of appeal.
Section 47-11-17 - Physician-patient relationship unaffected.
Section 47-11-18 - Private corporations law as applicable.
Section 47-11-19 - Severability and saving clause.