Chapter 14A - SOUTH DAKOTA BUSINESS TRUST ACT

Section 47-14A-1 - Definitions
Section 47-14A-2 - Beneficial owner's contribution to business trust-Contribution not required
Section 47-14A-3 - Obligation of beneficial owner-Cash value of contribution as option in addition to other remedies
Section 47-14A-4 - Penalties or consequences for failure to make contribution
Section 47-14A-5 - Liability of beneficial owners
Section 47-14A-6 - Liability of trustees
Section 47-14A-7 - Liability of officers, employees, and others managing business of trust
Section 47-14A-8 - Usury not a defense against beneficial owner's obligation
Section 47-14A-9 - Power to sue and be sued-Liabilities-Property subject to attachment-Exception for separately designed series
Section 47-14A-10 - Trustee may be served with process
Section 47-14A-11 - Service of process-Fee if service made on secretary of state
Section 47-14A-12 - Time for responsive pleading
Section 47-14A-13 - Trustee or beneficial owner may consent to jurisdiction
Section 47-14A-14 - Service of process not limited
Section 47-14A-15 - Circuit court jurisdiction over business trusts
Section 47-14A-16 - Doing business in state by reason of being trustee
Section 47-14A-17 - Beneficial owner to have undivided interest in trust property-Proportionate share in profits and losses
Section 47-14A-18 - Creditors of beneficial owners have no rights in business trust property
Section 47-14A-19 - Beneficial owner's interest in business trust as personal property
Section 47-14A-20 - Beneficial owner's interest transferable
Section 47-14A-21 - Beneficial owner entitled to distribution becomes creditor of business trust
Section 47-14A-22 - Title to property of business trust may be held by trustee
Section 47-14A-23 - Creditors of trustee have no rights in business trust property
Section 47-14A-24 - Trustees to manage affairs of business trust-Persons entitled to direct trustees-Power to direct trustees does not cause person to be trustee nor to create duties or liabilities
Section 47-14A-25 - Provisions of governing instrument
Section 47-14A-26 - Trustee acting in reliance on governing instrument not liable to trust or beneficial owner-Duties determined by governing instrument
Section 47-14A-27 - Officer or employer acting in reliance on governing instrument not liable-Duties determined by governing instrument
Section 47-14A-28 - Action by beneficial owners-Notice and meeting not necessary if consent exists-Proxy
Section 47-14A-29 - Action by trustees-Notice and meeting not necessary if consent exists-Proxy
Section 47-14A-30 - One trustee required to have residence or principal place of business in state
Section 47-14A-31 - Exception to section 47-14A-30 for registered investment companies
Section 47-14A-32 - Change of registered agent or location of office-Amendment to certificate of trust
Section 47-14A-33 - Service of process on registered agent valid
Section 47-14A-34 - Change of name or address of trustee or registered agent-Fee-Certificate
Section 47-14A-35 - Business trust to have perpetual existence-Termination determined by governing instrument
Section 47-14A-36 - Death or incapacity of beneficial owner need not terminate business trust
Section 47-14A-37 - Dissolution of trust determined by governing instrument
Section 47-14A-38 - Powers of trust managers upon dissolution of trust
Section 47-14A-39 - Payment of claims and obligations of trust upon dissolution-Distribution of remaining assets-Liability of persons winding up business
Section 47-14A-40 - Dissolution of series need not cause dissolution of trust-Series dissolution determined by governing instrument-Death or incapacity of beneficial owner need not terminate series
Section 47-14A-41 - Powers of trust series managers upon dissolution of series-Liability
Section 47-14A-42 - Laws applicable to business trusts
Section 47-14A-43 - Certificate of trust to be filed with secretary-Contents-Trust formed upon filing
Section 47-14A-44 - Certificate of amendment-Contents-Certificate of trust may be freely amended
Section 47-14A-45 - Restated certificate of trust integrating all amendments-Contents
Section 47-14A-46 - Certificate of cancellation to be filed upon termination of trust-Contents
Section 47-14A-47 - Certificate of correction or corrected certificate of trust to be filed to correct defective information-Contents-Effective date
Section 47-14A-48 - Termination of certificate containing future effective date
Section 47-14A-49 - Execution of certificates
Section 47-14A-50 - Execution by agent-Authorization of agent
Section 47-14A-51 - Execution of certificate by trustee constitutes oath as to truth of contents
Section 47-14A-52 - Certificates to be delivered to secretary's office-Duties of secretary upon receipt of filing
Section 47-14A-53 - Certificates effective upon filing or upon effective date contained in certificate
Section 47-14A-54 - Fees paid at request of secretary or upon filing of certificate
Section 47-14A-55 - Signature may be facsimile or electronically transmitted-Certificate may be electronically transmitted
Section 47-14A-56 - Certificate of trust on file with secretary is notice of business trust
Section 47-14A-57 - Fees-Documents not effective until fee paid
Section 47-14A-58 - Name of business trust to be distinguishable from other businesses-Exception
Section 47-14A-59 - Name of person in name of business trust
Section 47-14A-60 - Terms contained in name of business trust
Section 47-14A-61 - Reservation of name
Section 47-14A-62 - Reservation of name-Application-Duration-Transfer-Cancellation
Section 47-14A-63 - Fees for reservation-When paid
Section 47-14A-64 - Merger or consolidation of business trusts
Section 47-14A-65 - Certificate of merger or consolidation to be filed with secretary-Contents
Section 47-14A-66 - Validity of certain mergers not affected by failure to file certificate
Section 47-14A-67 - Effective date of merger or consolidation
Section 47-14A-68 - Certificate of merger or consolidation as certificate of cancellation
Section 47-14A-69 - Amendment to or adoption of governing instrument upon merger-Effective date
Section 47-14A-70 - Rights, property, and obligations of merging entities vest in resulting entity
Section 47-14A-71 - Provision for contractual appraisal rights
Section 47-14A-72 - Authority of beneficial owner to bring derivative action
Section 47-14A-73 - Qualifications of plaintiff in derivative action
Section 47-14A-74 - Complaint to specify efforts to secure action by trustees
Section 47-14A-75 - Costs and attorney's fees of successful derivative action
Section 47-14A-76 - Beneficial owner's right to bring derivative action determined by governing instrument
Section 47-14A-77 - Indemnification of trustee or beneficial owner
Section 47-14A-78 - Absence of indemnity provision in governing instrument not conclusive
Section 47-14A-79 - Power of business trust to acquire interest held by beneficial owner
Section 47-14A-80 - Beneficial owners entitled to obtain certain information
Section 47-14A-81 - Trustees entitled to examine certain information
Section 47-14A-82 - Trustees authorized to keep certain information confidential
Section 47-14A-83 - Records maintained in other than written form-Demand for information to be in writing
Section 47-14A-84 - Conversion of existing business entity to business trust-Filing requirements
Section 47-14A-85 - Certificate of conversion-Contents
Section 47-14A-86 - Effective of date of conversion to business trust-Effective date of commencement of business
Section 47-14A-87 - Conversion to business trust not to affect liabilities incurred prior to conversion
Section 47-14A-88 - Rights, property, and obligations of converting entities vest in resulting entity
Section 47-14A-89 - Conversion deemed continuation of business entity as business trust
Section 47-14A-90 - Conversion to be approved under business entity's governing instrument
Section 47-14A-91 - Construction of chapter with other laws
Section 47-14A-92 - Disposition of rights and interests of business entity upon conversion
Section 47-14A-93 - Conversion of business trust to other business entity
Section 47-14A-94 - Provisions of law subject to change
Section 47-14A-95 - Construction
Section 47-14A-96 - Citation of chapter