South Dakota Statutes
§ 55-4-15 — Corporate trustee buying its own stock.
No corporate trustee, unless expressly authorized by the trust instrument, may purchase for a trust shares of its own stock, or its bonds, or other securities, or the stock, bonds, or other securities of an affiliate.
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South Dakota § 55-4-15 (Corporate trustee buying its own stock.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1943, ch 308, § 7; SDC Supp 1960, § 59.0507; SL 2006, ch 243, § 4.
Nearby Sections
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§ 55-1-2
Trusts classified.§ 55-1-20
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Termination of trust for care of animal.§ 55-1-21.11
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