South Dakota Codified Laws 47-14A-22. Title to property of business trust may be held by trustee
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Except to the extent otherwise provided in the governing instrument of the business trust, legal title to the property of the business trust, or any part thereof, may be held in the name of any trustee of the business trust, in its capacity as such, with the same effect as if such property were held in the name of the business trust.
Terms Used In South Dakota Codified Laws 47-14A-22
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Trustee: A person or institution holding and administering property in trust.
Source: SL 2001, ch 245, § 22.