There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 47 CORPORATIONS
Chapter 14A. South Dakota Business Trust Act
§47-14A-79 Power of business trust to acquire interest held by beneficial owner.
SD Codified L § 47-14A-79 (through 2011) What's This?
47-14A-79. Power of business trust to acquire interest held by beneficial owner. Except to the extent otherwise provided in the governing instrument of a business trust, a business trust may acquire, by purchase, redemption, or otherwise, any beneficial interest in the business trust held by a beneficial owner of the business trust. Except to the extent otherwise provided in the governing instrument of a business trust, any such interest so acquired by a business trust shall be deemed canceled.
Source: SL 2001, ch 245, § 79.
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