South Dakota Codified Laws 55-1A-21. Corporate powers–Stocks–Reorganizations and mergers–Sales and leases
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A trustee may sell or exercise stock subscription or conversion rights; participate in foreclosures, reorganizations, consolidations, mergers or liquidations; and consent, directly or through a committee or other agent, to corporate sales, leases and encumbrances. In the exercise of such powers a trustee may, where he deems such course to be expedient, deposit stocks, bonds or other securities with any protective or other similar committee, under such terms and conditions respecting the deposit thereof as the trustee may approve.
Terms Used In South Dakota Codified Laws 55-1A-21
- Trustee: A person or institution holding and administering property in trust.
Source: SL 1979, ch 336, § 21.