A beneficial owner or a trustee of a foreign business trust is not liable for the obligations of the foreign business trust solely by reason of the business trust's having done business in the state without registration.
S.D. Codified Laws § 47-14B-14
Liability of beneficial owner or trustee 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, § 110.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.