South Dakota § 47-14A-73 Qualifications of plaintiff in derivative action.

South Dakota Statutes

§ 47-14A-73 — Qualifications of plaintiff in derivative action.

South Dakota § 47-14A-73

Title 47CORPORATIONS

Ch. 47-14ASOUTH DAKOTA BUSINESS TRUST ACT

This text of South Dakota § 47-14A-73 (Qualifications of plaintiff in derivative action.) 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-73 (2026).

Text

In a derivative action, the plaintiff must be a beneficial owner at the time of bringing the action and:

(1)At the time of the transaction of which the plaintiff complains; or (2) Plaintiff's status as a beneficial owner had devolved upon plaintiff by operation of law or pursuant to the terms of the governing instrument of the business trust from a person who was a beneficial owner at the time of the transaction.

Free access — add to your briefcase to read the full text and ask questions with AI

In a derivative action, the plaintiff must be a beneficial owner at the time of bringing the action and: (1) At the time of the transaction of which the plaintiff complains; or (2) Plaintiff's status as a beneficial owner had devolved upon plaintiff by operation of law or pursuant to the terms of the governing instrument of the business trust from a person who was a beneficial owner at the time of the transaction.