Chapter
SOUTH DAKOTA BUSINESS TRUST ACT
- S.D. Codified Laws § 47-14A-1— Definitions
- S.D. Codified Laws § 47-14A-2— Beneficial owner's contribution to business trust--Contribution not required
- S.D. Codified Laws § 47-14A-3— Obligation of beneficial owner--Cash value of contribution as option in addition to other remedies
- S.D. Codified Laws § 47-14A-4— Penalties or consequences for failure to make contribution
- S.D. Codified Laws § 47-14A-5— Liability of beneficial owners
- S.D. Codified Laws § 47-14A-6— Liability of trustees
- S.D. Codified Laws § 47-14A-7— Liability of officers, employees, and others managing business of trust
- S.D. Codified Laws § 47-14A-8— Usury not a defense against beneficial owner's obligation
- S.D. Codified Laws § 47-14A-9— Power to sue and be sued--Liabilities--Property subject to attachment--Exception for separately designed series
- S.D. Codified Laws § 47-14A-10— Trustee may be served with process
- S.D. Codified Laws § 47-14A-11— Service of process--Fee if service made on secretary of state
- S.D. Codified Laws § 47-14A-12— Time for responsive pleading
- S.D. Codified Laws § 47-14A-13— Trustee or beneficial owner may consent to jurisdiction
- S.D. Codified Laws § 47-14A-14— Service of process not limited
- S.D. Codified Laws § 47-14A-15— Circuit court jurisdiction over business trusts
- S.D. Codified Laws § 47-14A-16— Doing business in state by reason of being trustee
- S.D. Codified Laws § 47-14A-17— Beneficial owner to have undivided interest in trust property--Proportionate share in profits and losses
- S.D. Codified Laws § 47-14A-18— Creditors of beneficial owners have no rights in business trust property
- S.D. Codified Laws § 47-14A-19— Beneficial owner's interest in business trust as personal property
- S.D. Codified Laws § 47-14A-20— Beneficial owner's interest transferable
- S.D. Codified Laws § 47-14A-21— Beneficial owner entitled to distribution becomes creditor of business trust
- S.D. Codified Laws § 47-14A-22— Title to property of business trust may be held by trustee
- S.D. Codified Laws § 47-14A-23— Creditors of trustee have no rights in business trust property
- S.D. Codified Laws § 47-14A-24— Trustees to manage affairs of business trust--Persons entitled to direct trustees--Power to direct trustees does not cause person to be trustee nor to create duties or liabilities
- S.D. Codified Laws § 47-14A-25— Provisions of governing instrument
- S.D. Codified Laws § 47-14A-26— Trustee acting in reliance on governing instrument not liable to trust or beneficial owner--Duties determined by governing instrument
- S.D. Codified Laws § 47-14A-27— Officer or employer acting in reliance on governing instrument not liable--Duties determined by governing instrument
- S.D. Codified Laws § 47-14A-28— Action by beneficial owners--Notice and meeting not necessary if consent exists--Proxy
- S.D. Codified Laws § 47-14A-29— Action by trustees--Notice and meeting not necessary if consent exists--Proxy
- S.D. Codified Laws § 47-14A-30— One trustee required to have residence or principal place of business in state
- S.D. Codified Laws § 47-14A-31— Exception to § 47-14A-30 for registered investment companies
- S.D. Codified Laws § 47-14A-32— Change of registered agent or location of office--Amendment to certificate of trust
- S.D. Codified Laws § 47-14A-33— Service of process on registered agent valid
- S.D. Codified Laws § 47-14A-34— Change of name or address of trustee or registered agent--Fee--Certificate
- S.D. Codified Laws § 47-14A-35— Business trust to have perpetual existence--Termination determined by governing instrument
- S.D. Codified Laws § 47-14A-36— Death or incapacity of beneficial owner need not terminate business trust
- S.D. Codified Laws § 47-14A-37— Dissolution of trust determined by governing instrument
- S.D. Codified Laws § 47-14A-38— Powers of trust managers upon dissolution of trust
- S.D. Codified Laws § 47-14A-39— Payment of claims and obligations of trust upon dissolution--Distribution of remaining assets--Liability of persons winding up business
- S.D. Codified Laws § 47-14A-40— Dissolution of series need not cause dissolution of trust--Series dissolution determined by governing instrument--Death or incapacity of beneficial owner need not terminate series
- S.D. Codified Laws § 47-14A-41— Powers of trust series managers upon dissolution of series--Liability
- S.D. Codified Laws § 47-14A-42— Laws applicable to business trusts
- S.D. Codified Laws § 47-14A-43— Certificate of trust to be filed with secretary--Contents--Trust formed upon filing
- S.D. Codified Laws § 47-14A-44— Certificate of amendment--Contents--Certificate of trust may be freely amended
- S.D. Codified Laws § 47-14A-45— Restated certificate of trust integrating all amendments--Contents
- S.D. Codified Laws § 47-14A-46— Certificate of cancellation to be filed upon termination of trust--Contents
- S.D. Codified Laws § 47-14A-47— Certificate of correction or corrected certificate of trust to be filed to correct defective information--Contents--Effective date
- S.D. Codified Laws § 47-14A-48— Termination of certificate containing future effective date
- S.D. Codified Laws § 47-14A-49— Execution of certificates
- S.D. Codified Laws § 47-14A-51— Execution of certificate by trustee constitutes oath as to truth of contents
- S.D. Codified Laws § 47-14A-52— Certificates to be delivered to secretary's office--Duties of secretary upon receipt of filing
- S.D. Codified Laws § 47-14A-53— Certificates effective upon filing or upon effective date contained in certificate
- S.D. Codified Laws § 47-14A-54— Fees paid at request of secretary or upon filing of certificate
- S.D. Codified Laws § 47-14A-55— Signature may be facsimile or electronically transmitted--Certificate may be electronically transmitted
- S.D. Codified Laws § 47-14A-56— Certificate of trust on file with secretary is notice of business trust
- S.D. Codified Laws § 47-14A-57— Fees-Documents not effective until fee paid
- S.D. Codified Laws § 47-14A-58— Name of business trust to be distinguishable from other businesses--Exception
- S.D. Codified Laws § 47-14A-59— Name of person in name of business trust
- S.D. Codified Laws § 47-14A-60— Terms contained in name of business trust
- S.D. Codified Laws § 47-14A-61— Reservation of name
- S.D. Codified Laws § 47-14A-62— Reservation of name--Application--Duration--Transfer--Cancellation
- S.D. Codified Laws § 47-14A-63— Fees for reservation--When paid
- S.D. Codified Laws § 47-14A-64— Merger or consolidation of business trusts
- S.D. Codified Laws § 47-14A-65— Certificate of merger or consolidation to be filed with secretary--Contents
- S.D. Codified Laws § 47-14A-66— Validity of certain mergers not affected by failure to file certificate
- S.D. Codified Laws § 47-14A-67— Effective date of merger or consolidation
- S.D. Codified Laws § 47-14A-68— Certificate of merger or consolidation as certificate of cancellation
- S.D. Codified Laws § 47-14A-69— Amendment to or adoption of governing instrument upon merger--Effective date
- S.D. Codified Laws § 47-14A-70— Rights, property, and obligations of merging entities vest in resulting entity
- S.D. Codified Laws § 47-14A-71— Provision for contractual appraisal rights
- S.D. Codified Laws § 47-14A-72— Authority of beneficial owner to bring derivative action
- S.D. Codified Laws § 47-14A-73— Qualifications of plaintiff in derivative action
- S.D. Codified Laws § 47-14A-74— Complaint to specify efforts to secure action by trustees
- S.D. Codified Laws § 47-14A-75— Costs and attorney's fees of successful derivative action
- S.D. Codified Laws § 47-14A-76— Beneficial owner's right to bring derivative action determined by governing instrument
- S.D. Codified Laws § 47-14A-77— Indemnification of trustee or beneficial owner
- S.D. Codified Laws § 47-14A-78— Absence of indemnity provision in governing instrument not conclusive
- S.D. Codified Laws § 47-14A-79— Power of business trust to acquire interest held by beneficial owner
- S.D. Codified Laws § 47-14A-80— Beneficial owners entitled to obtain certain information
- S.D. Codified Laws § 47-14A-81— Trustees entitled to examine certain information
- S.D. Codified Laws § 47-14A-82— Trustees authorized to keep certain information confidential
- S.D. Codified Laws § 47-14A-83— Records maintained in other than written form--Demand for information to be in writing
- S.D. Codified Laws § 47-14A-84— Conversion of existing business entity to business trust--Filing requirements
- S.D. Codified Laws § 47-14A-85— Certificate of conversion--Contents
- S.D. Codified Laws § 47-14A-86— Effective of date of conversion to business trust--Effective date of commencement of business
- S.D. Codified Laws § 47-14A-87— Conversion to business trust not to affect liabilities incurred prior to conversion
- S.D. Codified Laws § 47-14A-88— Rights, property, and obligations of converting entities vest in resulting entity
- S.D. Codified Laws § 47-14A-89— Conversion deemed continuation of business entity as business trust
- S.D. Codified Laws § 47-14A-90— Conversion to be approved under business entity's governing instrument
- S.D. Codified Laws § 47-14A-91— Construction of chapter with other laws
- S.D. Codified Laws § 47-14A-92— Disposition of rights and interests of business entity upon conversion
- S.D. Codified Laws § 47-14A-93— Conversion of business trust to other business entity
- S.D. Codified Laws § 47-14A-94— Provisions of law subject to change
- S.D. Codified Laws § 47-14A-95— Construction
- S.D. Codified Laws § 47-14A-96— Citation of chapter