South Dakota Statutes
§ 47-14A-7 — Liability of officers, employees, and others managing business of trust.
Except to the extent otherwise provided in the governing instrument of a business trust, an officer, employee, manager, or other person acting pursuant to subdivision 47-14A-25(7), when acting in such capacity, is not personally liable to any person other than the business trust or a beneficial owner for any act, omission, or obligation of the business trust or any trustee thereof.
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South Dakota § 47-14A-7 (Liability of officers, employees, and others managing business of trust.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2001, ch 245, § 7.
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Repealed§ 47-1-3
Repealed§ 47-10-1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.