47-11A-3. Powers and privileges restricted to corporate purpose.
A corporation formed under §47-11A-1 may exercise the powers and privileges conferred upon corporations by the laws of the State of South Dakota only in furtherance of and subject to its corporate purpose.
Source: SL 1970, ch 258, §1 (3).
Structure South Dakota Codified Laws
Chapter 11A - Chiropractic Corporations
Section 47-11A-1 - Formation of corporation and limited liability company authorized.
Section 47-11A-1.1 - Definition of terms.
Section 47-11A-2 - Purpose of corporation.
Section 47-11A-3 - Powers and privileges restricted to corporate purpose.
Section 47-11A-4 - Words or abbreviations required in corporate name--Ethical standards.
Section 47-11A-5 - Shareholding restricted to licensed chiropractors--Active practice required.
Section 47-11A-5.1 - Revocable trust as shareholder--Conditions.
Section 47-11A-6 - Disposition of shares when shareholder no longer eligible.
Section 47-11A-7 - Qualifications of president, directors, and officers.
Section 47-11A-12.2 - Amendment of articles of incorporation to be consistent with law.
Section 47-11A-14 - Purchase at book value of shares of deceased or ineligible shareholder.
Section 47-11A-15 - Corporate practice of chiropractic restricted--Application of canons of ethics.
Section 47-11A-16 - Pension and insurance plans for employees--Restrictions on terms.
Section 47-11A-17 - Standards of professional conduct binding on corporation.
Section 47-11A-18 - Violation as ground for revocation of chiropractic license.
Section 47-11A-20 - Relationship with patient unchanged.
Section 47-11A-21 - Management of deceased or substantially disabled chiropractor's practice.