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§ 47-14A-29 Action by trustees--Notice and meeting not necessary if consent exists--Proxy.

SD Codified L § 47-14A-29 (2019) (N/A)
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47-14A-29. Action by trustees--Notice and meeting not necessary if consent exists--Proxy. Unless otherwise provided in the governing instrument of a business trust, on any matter that is to be voted on by the trustees:

(1) The trustees may take such action without a meeting, without a prior notice and without a vote if a consent or consents in writing, setting forth the action so taken, shall be signed by the trustees having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all trustees entitled to vote thereon were present and voted; and

(2) The trustee may vote in person or by proxy.Source: SL 2001, ch 245, § 29.

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§ 47-14A-28 Action by beneficial owners--Notice and meeting not necessary if consent exists--Proxy.
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§ 47-14A-30 One trustee required to have residence or principal place of business in state.