South Dakota Statutes
§ 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.
Free access — add to your briefcase to read the full text and ask questions with AI
South Dakota § 47-14A-2 (Beneficial owner's contribution to business trust--Contribution not required.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2001, ch 245, § 2.
Nearby Sections
15
§ 47-1-1
Repealed§ 47-1-3
Repealed§ 47-10-1
Purposes of corporations.§ 47-10-10
Incorporators.§ 47-10-11
Directors--Number and term of office.§ 47-10-13
Accumulation of surplus--Use of surplus.§ 47-10-14
Persons authorized to hold common stock.§ 47-10-18
Nonstockholder members--Duty to lend.§ 47-10-2
Powers of corporations.