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2018 South Dakota Codified Laws
Title 47 - CORPORATIONS
Chapter 14A - South Dakota Business Trust Act
§ 47-14A-2 Beneficial owner's contribution to business trust--Contribution not required.
Universal Citation: SD Codified L § 47-14A-2 (2018)
47-14A-2. Beneficial owner's contribution to business trust--Contribution not required. A contribution of a beneficial owner to the business trust may be in cash, property, or services rendered, or a promissory note or other obligation to contribute cash or property or to perform services. However, a person may become a beneficial owner of a business trust and may receive a beneficial interest in a business trust without making a contribution or being obligated to make a contribution to the business trust.
Source: SL 2001, ch 245, ยง 2.
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