South Dakota § 47-14A-21 Beneficial owner entitled to distribution becomes creditor of business trust.

South Dakota Statutes

§ 47-14A-21 — Beneficial owner entitled to distribution becomes creditor of business trust.

South Dakota § 47-14A-21

Title 47CORPORATIONS

Ch. 47-14ASOUTH DAKOTA BUSINESS TRUST ACT

This text of South Dakota § 47-14A-21 (Beneficial owner entitled to distribution becomes creditor of business trust.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 47-14A-21 (2026).

Text

Except to the extent otherwise provided in the governing instrument of a business trust, at the time a beneficial owner becomes entitled to receive a distribution, the beneficial owner has the status of, and is entitled to all remedies available to, a creditor of the business trust with respect to the distribution. A governing instrument may provide for the establishment of record dates with respect to allocations and distributions by a business trust.

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Except to the extent otherwise provided in the governing instrument of a business trust, at the time a beneficial owner becomes entitled to receive a distribution, the beneficial owner has the status of, and is entitled to all remedies available to, a creditor of the business trust with respect to the distribution. A governing instrument may provide for the establishment of record dates with respect to allocations and distributions by a business trust.