The laws of the state, territory, possession, or other jurisdiction or country under which a foreign business trust is organized govern its organization and internal affairs and the liability of its beneficial owners and trustees. A foreign business trust may not be denied registration by reason of any difference between those laws and the laws of the state.
S.D. Codified Laws § 47-14B-1
Laws governing organization of foreign business trust
Known as the South Dakota Foreign Business Trust Act
The act spans §§ 47–47 (25 sections).
Source: SL 2001, ch 245, § 97.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.