S.D. Codified Laws § 47-14A-7

Current through the 2024 Legislative Session

Section 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.

SDCL 47-14A-7

SL 2001, ch 245, §7.