Except to the extent otherwise provided in the governing instrument of a business trust, the death, incapacity, dissolution, termination, or bankruptcy of a beneficial owner may not result in the termination or dissolution of a business trust.
S.D. Codified Laws § 47-14A-36
Death or incapacity of beneficial owner need not terminate business trust
Known as the South Dakota Business Trust Act
The act spans §§ 47–47 (95 sections).
Source: SL 2001, ch 245, § 36.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.