Subject to such standards and restrictions, if any, as are set forth in the governing instrument of a business trust, a business trust may indemnify and hold harmless any trustee or beneficial owner or other person from and against any and all claims and demands whatsoever.
S.D. Codified Laws § 47-14A-77
Indemnification of trustee or beneficial owner
Known as the South Dakota Business Trust Act
The act spans §§ 47–47 (95 sections).
Source: SL 2001, ch 245, § 77.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.