South Dakota 14A — South Dakota Business Trust Act
- 47-14A-1 — Definitions.
- 47-14A-2 — Beneficial owner's contribution to business trust--Contribution not required.
- 47-14A-3 — Obligation of beneficial owner--Cash value of contribution as option in addition to otherremedies.
- 47-14A-4 — Penalties or consequences for failure to make contribution.
- 47-14A-5 — Liability of beneficial owners.
- 47-14A-6 — Liability of trustees.
- 47-14A-7 — Liability of officers, employees, and others managing business of trust.
- 47-14A-8 — Usury not a defense against beneficial owner's obligation.
- 47-14A-9 — Power to sue and be sued--Liabilities--Property subject to attachment--Exception forseparately designed series.
- 47-14A-10 — Trustee may be served with process.
- 47-14A-11 — Service of process--Fee if service made on secretary of state.
- 47-14A-12 — Time for responsive pleading.
- 47-14A-13 — Trustee or beneficial owner may consent to jurisdiction.
- 47-14A-14 — Service of process not limited.
- 47-14A-15 — Circuit court jurisdiction over business trusts.
- 47-14A-16 — Doing business in state by reason of being trustee.
- 47-14A-17 — Beneficial owner to have undivided interest in trust property--Proportionate share in profitsand losses.
- 47-14A-18 — Creditors of beneficial owners have no rights in business trust property.
- 47-14A-19 — Beneficial owner's interest in business trust as personal property.
- 47-14A-20 — Beneficial owner's interest transferable.
- 47-14A-21 — Beneficial owner entitled to distribution becomes creditor of business trust.
- 47-14A-22 — Title to property of business trust may be held by trustee.
- 47-14A-23 — Creditors of trustee have no rights in business trust property.
- 47-14A-24 — Trustees to manage affairs of business trust--Persons entitled to direct trustees--Power todirect trustees does not cause person to be trustee nor to create duties or liabilities.
- 47-14A-25 — Provisions of governing instrument.
- 47-14A-26 — Trustee acting in reliance on governing instrument not liable to trust or beneficial owner--Duties determined by governing instrument.
- 47-14A-27 — Officer or employer acting in reliance on governing instrument not liable--Dutiesdetermined by governing instrument.
- 47-14A-28 — Action by beneficial owners--Notice and meeting not necessary if consent exists--Proxy.
- 47-14A-29 — Action by trustees--Notice and meeting not necessary if consent exists--Proxy.
- 47-14A-30 — One trustee required to have residence or principal place of business in state.
- 47-14A-31 — Exception to § 47-14A-30 for registered investment companies.
- 47-14A-32 — Change of registered agent or location of office--Amendment to certificate of trust.
- 47-14A-33 — Service of process on registered agent valid.
- 47-14A-34 — Change of name or address of trustee or registered agent--Fee--Certificate.
- 47-14A-35 — Business trust to have perpetual existence--Termination determined by governinginstrument.
- 47-14A-36 — Death or incapacity of beneficial owner need not terminate business trust.
- 47-14A-37 — Dissolution of trust determined by governing instrument.
- 47-14A-38 — Powers of trust managers upon dissolution of trust.
- 47-14A-39 — Payment of claims and obligations of trust upon dissolution--Distribution of remainingassets--Liability of persons winding up business.
- 47-14A-40 — Dissolution of series need not cause dissolution of trust--Series dissolution determined bygoverning instrument--Death or incapacity of beneficial owner need not terminate series.
- 47-14A-41 — Powers of trust series managers upon dissolution of series--Liability.
- 47-14A-42 — Laws applicable to business trusts.
- 47-14A-43 — Certificate of trust to be filed with secretary--Contents--Trust formed upon filing.
- 47-14A-44 — Certificate of amendment--Contents--Certificate of trust may be freely amended.
- 47-14A-45 — Restated certificate of trust integrating all amendments--Contents.
- 47-14A-46 — Certificate of cancellation to be filed upon termination of trust--Contents.
- 47-14A-47 — Certificate of correction or corrected certificate of trust to be filed to correct defectiveinformation--Contents--Effective date.
- 47-14A-48 — Termination of certificate containing future effective date.
- 47-14A-49 — Execution of certificates.
- 47-14A-50 — Execution by agent--Authorization of agent.
- 47-14A-51 — Execution of certificate by trustee constitutes oath as to truth of contents.
- 47-14A-52 — Certificates to be delivered to secretary's office--Duties of secretary upon receipt of filing.
- 47-14A-53 — Certificates effective upon filing or upon effective date contained in certificate.
- 47-14A-54 — Fees paid at request of secretary or upon filing of certificate.
- 47-14A-55 — Signature may be facsimile or electronically transmitted--Certificate may be electronicallytransmitted.
- 47-14A-56 — Certificate of trust on file with secretary is notice of business trust.
- 47-14A-57 — No documents effective until fee paid--Secretary to promulgate rules--Fees.
- 47-14A-58 — Name of business trust to be distinguishable from other businesses--Exception.
- 47-14A-59 — Name of person in name of business trust.
- 47-14A-60 — Terms contained in name of business trust.
- 47-14A-61 — Reservation of name.
- 47-14A-62 — Reservation of name--Application--Duration--Transfer--Cancellation.
- 47-14A-63 — Fees for reservation--When paid.
- 47-14A-64 — Merger or consolidation of business trusts.
- 47-14A-65 — Certificate of merger or consolidation to be filed with secretary--Contents.
- 47-14A-66 — Validity of certain mergers not affected by failure to file certificate.
- 47-14A-67 — Effective date of merger or consolidation.
- 47-14A-68 — Certificate of merger or consolidation as certificate of cancellation.
- 47-14A-69 — Amendment to or adoption of governing instrument upon merger--Effective date.
- 47-14A-70 — Rights, property, and obligations of merging entities vest in resulting entity.
- 47-14A-71 — Provision for contractual appraisal rights.
- 47-14A-72 — Authority of beneficial owner to bring derivative action.
- 47-14A-73 — Qualifications of plaintiff in derivative action.
- 47-14A-74 — Complaint to specify efforts to secure action by trustees.
- 47-14A-75 — Costs and attorney's fees of successful derivative action.
- 47-14A-76 — Beneficial owner's right to bring derivative action determined by governing instrument.
- 47-14A-77 — Indemnification of trustee or beneficial owner.
- 47-14A-78 — Absence of indemnity provision in governing instrument not conclusive.
- 47-14A-79 — Power of business trust to acquire interest held by beneficial owner.
- 47-14A-80 — Beneficial owners entitled to obtain certain information.
- 47-14A-81 — Trustees entitled to examine certain information.
- 47-14A-82 — Trustees authorized to keep certain information confidential.
- 47-14A-83 — Records maintained in other than written form--Demand for information to be in writing.
- 47-14A-84 — Conversion of existing business entity to business trust--Filing requirements.
- 47-14A-85 — Certificate of conversion--Contents.
- 47-14A-86 — Effective of date of conversion to business trust--Effective date of commencement ofbusiness.
- 47-14A-87 — Conversion to business trust not to affect liabilities incurred prior to conversion.
- 47-14A-88 — Rights, property, and obligations of converting entities vest in resulting entity.
- 47-14A-89 — Conversion deemed continuation of business entity as business trust.
- 47-14A-90 — Conversion to be approved under business entity's governing instrument.
- 47-14A-91 — Construction of chapter with other laws.
- 47-14A-92 — Disposition of rights and interests of business entity upon conversion.
- 47-14A-93 — Conversion of business trust to other business entity.
- 47-14A-94 — Provisions of law subject to change.
- 47-14A-95 — Construction.
- 47-14A-96 — Citation of chapter.