S.D. Admin. R. 20:06:04:12

Current through Register Vol. 50, page 159, June 17, 2024

Section 20:06:04:12 - Ownership of securities held in trust

Beneficial ownership of a security for the purpose of SDCL 58-5-69 shall include the ownership of:

(1) Securities as a trustee where either the trustee or members of the trustee's immediate family have a vested interest in the income or corpus of the trust;

(2) A vested beneficial interest in a trust; and

(3) Securities as a settlor of a trust in which the settlor has the power to revoke the trust without obtaining the consent of all the beneficiaries.

S.D. Admin. R. 20:06:04:12

4 SDR 6, effective 8/9/1977; 12 SDR 151, 12 SDR 155, effective 7/1/1986.

General Authority: SDCL 58-5-77.

Law Implemented: SDCL 58-5-69.