LegalFix
Sign In

§ 47-14A-79 Power of business trust to acquire interest held by beneficial owner.

SD Codified L § 47-14A-79 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

47-14A-79. Power of business trust to acquire interest held by beneficial owner. Except to the extent otherwise provided in the governing instrument of a business trust, a business trust may acquire, by purchase, redemption, or otherwise, any beneficial interest in the business trust held by a beneficial owner of the business trust. Except to the extent otherwise provided in the governing instrument of a business trust, any such interest so acquired by a business trust shall be deemed canceled.

Source: SL 2001, ch 245, § 79.

Previous Section
§ 47-14A-78 Absence of indemnity provision in governing instrument not conclusive.
Next Section
§ 47-14A-80 Beneficial owners entitled to obtain certain information.