reglab/housing_qa huggingface dataset:
SD Codified L § 47-14A-13 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-13 - Trustee or beneficial owner may consent to jurisdiction.

47-14A-13. Trustee or beneficial owner may consent to jurisdiction.In the governing instrument of the business trust or other writing, a trustee or beneficial owner may consent to be subject to the nonexclusive jurisdiction of the courts of, or arbitration in, a specified jurisdiction, or the exclusive jurisdiction of the courts of the state, or the exclusivity of arbitration in a specified jurisdiction or the state, and to be served with legal process in the manner prescribed in such governing instrument of the business trust or other writing. Source: SL 2001, ch 245, §13.
SD Codified L § 47-14A-14 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-14 - Service of process not limited.

47-14A-14. Service of process not limited.Nothing in this chapter limits or affects the right to serve process in any other manner now or hereafter provided by law. This section is an extension of and not a limitation upon the right otherwise existing of service of legal process upon nonresidents. Source: SL 2001, ch 245, §14.
SD Codified L § 47-14A-15 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-15 - Circuit court jurisdiction over business trusts.

47-14A-15. Circuit court jurisdiction over business trusts.The circuit court has jurisdiction over business trusts to the same extent as it has jurisdiction over common law trusts formed under the laws of the state. Source: SL 2001, ch 245, §15.
SD Codified L § 47-14A-16 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-16 - Doing business in state by reason of being trustee.

47-14A-16. Doing business in state by reason of being trustee.A partnership (whether general or limited), corporation, or other nonnatural person formed or organized under the laws of any foreign country or other foreign jurisdiction or the laws of any state other than the State of South Dakota may not be deemed to be doing business in the state solely by reason of its being a trustee of a business trust. Source: SL 2001, ch 245, §16.
SD Codified L § 47-14A-17 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-17 - Beneficial owner to have undivided interest in trust property--Proportionate share in profits and losses.

47-14A-17. Beneficial owner to have undivided interest in trust property--Proportionate share in profits and losses.Except to the extent otherwise provided in the governing instrument of the business trust, a beneficial owner shall have an undivided beneficial interest in the property of the business trust and shall share in the profits and losses of the business trust in the proportion (expressed as a percentage) of the entire undivided beneficial interest in the business trust owned by such beneficial owner. The governing instrument of a business trust may provide that the business trust or the trustees, acting for and on behalf of the business trust, shall be deemed to hold beneficial ownership of any income earned on securities of the business trust issued by any business entities formed, organized, or existing under the laws of any jurisdiction, including the laws of any foreign country. Source: SL 2001, ch 245, §17.
SD Codified L § 47-14A-18 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-18 - Creditors of beneficial owners have no rights in business trust property.

47-14A-18. Creditors of beneficial owners have no rights in business trust property.No creditor of the beneficial owner shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the business trust. Source: SL 2001, ch 245, §18.
SD Codified L § 47-14A-19 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-19 - Beneficial owner's interest in business trust as personal property.

47-14A-19. Beneficial owner's interest in business trust as personal property.A beneficial owner's beneficial interest in the business trust is personal property notwithstanding the nature of the property of the trust. Except to the extent otherwise provided in the governing instrument of a business trust, a beneficial owner has no interest in specific business trust property. Source: SL 2001, ch 245, §19.
SD Codified L § 47-14A-20 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-20 - Beneficial owner's interest transferable.

47-14A-20. Beneficial owner's interest transferable.A beneficial owner's beneficial interest in the business trust is freely transferable except to the extent otherwise provided in the governing instrument of the business trust. Source: SL 2001, ch 245, §20.
SD Codified L § 47-14A-21 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-21 - Beneficial owner entitled to distribution becomes creditor of business trust.

47-14A-21. Beneficial owner entitled to distribution becomes creditor of business trust.Except to the extent otherwise provided in the governing instrument of a business trust, at the time a beneficial owner becomes entitled to receive a distribution, the beneficial owner has the status of, and is entitled to all remedies available to, a creditor of the business trust with respect to the distribution. A governing instrument may provide for the establishment of record dates with respect to allocations and distributions by a business trust. Source: SL 2001, ch 245, §21.
SD Codified L § 47-14A-22 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-22 - Title to property of business trust may be held by trustee.

47-14A-22. Title to property of business trust may be held by trustee.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. Source: SL 2001, ch 245, §22.
SD Codified L § 47-14A-23 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-23 - Creditors of trustee have no rights in business trust property.

47-14A-23. Creditors of trustee have no rights in business trust property.No creditor of the trustee has any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the business trust with respect to any claim against, or obligation of, such trustee in its individual capacity and not related to the business trust. Source: SL 2001, ch 245, §23.
SD Codified L § 47-14A-24 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-24 - Trustees to manage affairs of business trust--Persons entitled to direct trustees--Power to direct trustees does not cause person to be trustee nor to create duties or liabilities.

47-14A-24. Trustees to manage affairs of business trust--Persons entitled to direct trustees--Power to direct trustees does not cause person to be trustee nor to create duties or liabilities.Except to the extent otherwise provided in the governing instrument of a business trust, the business and affairs of a business trust shall be managed by or under the direction of its trustees. To the extent provided in the governing instrument of a business trust, any person (including a beneficial owner) shall be entitled to direct the trustees or other persons in the management of the business trust. Except to the extent otherwise provided in the governing instrument of a business trust, neither the power to give direction to a trustee or other persons nor the exercise thereof by any person (including a beneficial owner) may cause such person to be a trustee. To the extent provided in the governing instrument of a business trust, neither the power to give direction to a trustee or other persons nor the exercise thereof by any person (including a beneficial owner) may cause such person to have duties (including fiduciary duties) or liabilities relating thereto to the business trust or to a beneficial owner thereof. Source: SL 2001, ch 245, §24.
SD Codified L § 47-14A-26 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-26 - Trustee acting in reliance on governing instrument not liable to trust or beneficial owner--Duties determined by governing instrument.

47-14A-26. Trustee acting in reliance on governing instrument not liable to trust or beneficial owner--Duties determined by governing instrument.To the extent that, at law or in equity, a trustee has duties (including fiduciary duties) and liabilities relating thereto to a business trust or to a beneficial owner:(1)Any such trustee acting under a governing instrument is not liable to the business trust or to any such beneficial owner for the trustee's good faith reliance on the provisions of such governing instrument; and(2)The trustee's duties and liabilities may be expanded or restricted by provisions in a governing instrument. Source: SL 2001, ch 245, §26.
SD Codified L § 47-14A-27 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-27 - Officer or employer acting in reliance on governing instrument not liable--Duties determined by governing instrument.

47-14A-27. Officer or employer acting in reliance on governing instrument not liable--Duties determined by governing instrument.To the extent that, at law or in equity, an officer, employee, manager, or other person designated pursuant to subdivision 47-14A-25(7) has duties (including fiduciary duties) and liabilities relating thereto to a business trust, a beneficial owner, or a trustee:(1)Any such officer, employee, manager, or other person acting under a governing instrument is not liable to the business trust, any beneficial owner, or any trustee for such person's good faith reliance on the provisions of such governing instrument; and(2)The duties and liabilities of an officer, employee, manager, or other person acting pursuant to subdivision 47-14A-25(7) may be expanded or restricted by provisions in a governing instrument. Source: SL 2001, ch 245, §27.
SD Codified L § 47-14A-28 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-28 - Action by beneficial owners--Notice and meeting not necessary if consent exists--Proxy.

47-14A-28. Action by beneficial owners--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 beneficial owners:(1)The beneficial owners 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 beneficial owners 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 interests in the business trust entitled to vote thereon were present and voted; and(2)The beneficial owners may vote in person or by proxy. Source: SL 2001, ch 245, §28.
SD Codified L § 47-14A-29 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-29 - Action by trustees--Notice and meeting not necessary if consent exists--Proxy.

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.
SD Codified L § 47-14A-30 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-30 - One trustee required to have residence or principal place of business in state.

47-14A-30. One trustee required to have residence or principal place of business in state.Every business trust shall at all times have at least one trustee which, in the case of a natural person, shall be a person who is a resident of this state or which, in all other cases, has its principal place of business in this state. Source: SL 2001, ch 245, §30.
SD Codified L § 47-14A-31 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-31 - Exception to § 47-14A-30 for registered investment companies.

47-14A-31. Exception to §47-14A-30 for registered investment companies.Notwithstanding the provisions of §47-14A-30, if a business trust is, becomes, or will become prior to or within one hundred eighty days following the first issuance of beneficial interests, a registered investment company under the Investment Company Act of 1940, as amended (15 U.S.C. §§80a-1 et seq.), such business trust may not be required to have a trustee who is a resident of this state or who has a principal place of business in this state if notice that the business trust is or will become an investment company as referenced in this sentence is set forth in the certificate of trust of the business trust and if and for so long as such business trust shall have and maintain in this state:(1)A registered office, which may, but need not be, a place of business in this state; and(2)A registered agent for service of process on the business trust, which agent may be either an individual resident in this state whose business office is identical with such business trust's registered office, or a domestic corporation, or a foreign corporation authorized to transact business in this state, having a business office identical with such registered office. Source: SL 2001, ch 245, §31.
SD Codified L § 47-14A-32 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-32 - Change of registered agent or location of office--Amendment to certificate of trust.

47-14A-32. Change of registered agent or location of office--Amendment to certificate of trust.Any business trust maintaining a registered office and registered agent in this state under §47-14A-30 may change the location of its registered office in this state to any other place in this state, or may change the registered agent to any other person or corporation, by filing an amendment to its certificate of trust in accordance with the applicable provisions of this section. If a business trust which is an investment company registered as aforesaid maintains a registered office and registered agent in this state, then the reference in §47-14A-43 to the "name and the business address of at least one of the trustees meeting the requirements of §47-14A-43" shall be deemed a reference to the name and the business address of the registered agent and registered office maintained under this section, and the certificate of trust filed under this chapter shall reflect such information in lieu of the information otherwise required by §47-14A-43. Source: SL 2001, ch 245, §32.
SD Codified L § 47-14A-33 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-33 - Service of process on registered agent valid.

47-14A-33. Service of process on registered agent valid.Service of process upon a registered agent maintained by a business trust pursuant to §47-14A-31 shall be as effective as if served upon one of the trustees of the business trust pursuant to this chapter. Source: SL 2001, ch 245, §33.
SD Codified L § 47-14A-34 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-34 - Change of name or address of trustee or registered agent--Fee--Certificate.

47-14A-34. Change of name or address of trustee or registered agent--Fee--Certificate.A trustee or registered agent of a business trust whose address, as set forth in a certificate of trust pursuant to §47-14A-43, has changed may change such address in the certificates of trust for all business trusts for which such trustee or registered agent is appointed, to another address in the State of South Dakota by paying a fee as set forth in §47-14A-57 and filing with the secretary of state a certificate, executed by such trustee or registered agent, setting forth the names of all business trusts for which such trustee or registered agent is appointed, and the address of such trustee or registered agent before it was changed, and further certifying as to the new address of such trustee or registered agent for each of the business trusts recited in the certificate. Upon the filing of such certificate, the secretary of state shall furnish to the trustee or registered agent a certified copy of the same under his or her hand and seal of office, and thereafter, or until further change of address, as authorized by law, the address of such trustee or registered agent in the State of South Dakota of each of the business trusts recited in the certificate shall be located at the new address of the trustee or registered agent thereof as given in the certificate. A trustee or registered agent of a business trust whose name, as set forth in a certificate of trust pursuant to §47-14A-43, has changed may change such name in the certificates of trust for all business trusts for which such trustee or registered agent is appointed, to its new name by paying a fee as set forth in §47-14A-57 and filing with the secretary of state a certificate, executed by such trustee or registered agent, setting forth the names of all business trusts for which such trustee or registered agent is appointed, the name of such trustee or registered agent before it was changed, and further certifying as to the new name of such trustee or registered agent for each of the business trusts recited in the certificate. Upon the filing of such certificate and payment of such fee, the secretary of state shall furnish to the trustee or registered agent a certified copy of the certificate under his hand and seal of office. Filing a certificate under this section shall be deemed to be an amendment of the certificate of trust of each business trust affected thereby and no further action with respect thereto to amend its certificate of trust under §47-14A-43 shall be required. Any trustee or registered agent filing a certificate under this section shall promptly, upon such filing, deliver a copy of any such certificate to each business trust affected thereby. Source: SL 2001, ch 245, §34.
SD Codified L § 47-14A-35 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-35 - Business trust to have perpetual existence--Termination determined by governing instrument.

47-14A-35. Business trust to have perpetual existence--Termination determined by governing instrument.Except to the extent otherwise provided in the governing instrument of the business trust, a business trust shall have perpetual existence, and a business trust may not be terminated or revoked by a beneficial owner or other person except in accordance with the terms of its governing instrument. Source: SL 2001, ch 245, §35.
SD Codified L § 47-14A-36 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-36 - Death or incapacity of beneficial owner need not terminate business trust.

47-14A-36. Death or incapacity of beneficial owner need not terminate business trust.Except to the extent otherwise provided in the governing instrument of a business trust, the death, incapacity, dissolution, termination, or bankruptcy of a beneficial owner may not result in the termination or dissolution of a business trust. Source: SL 2001, ch 245, §36.
SD Codified L § 47-14A-37 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-37 - Dissolution of trust determined by governing instrument.

47-14A-37. Dissolution of trust determined by governing instrument.In the event that a business trust does not have perpetual existence, a business trust is dissolved and its affairs shall be wound up at the time or upon the happening of events specified in the governing instrument. Source: SL 2001, ch 245, §37.
SD Codified L § 47-14A-38 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-38 - Powers of trust managers upon dissolution of trust.

47-14A-38. Powers of trust managers upon dissolution of trust.Upon dissolution of a business trust and until the filing of a certificate of cancellation as provided in §47-14A-43, the persons who, under the governing instrument of the business trust, are responsible for winding up the business trust's affairs may, in the name of and for and on behalf of the business trust, prosecute and defend suits, whether civil, criminal, or administrative, gradually settle and close the business trust business, dispose of and convey the business trust property, discharge or make reasonable provision for the business trust liabilities and distribute to the beneficial owners any remaining assets of the business trust. Source: SL 2001, ch 245, §38.
SD Codified L § 47-14A-39 (2021)
2021 South Dakota Codified Laws|Title 47 - Corporations|Chapter 14A - South Dakota Business Trust Act|Section 47-14A-39 - Payment of claims and obligations of trust upon dissolution--Distribution of remaining assets--Liability of persons winding up business.

47-14A-39. Payment of claims and obligations of trust upon dissolution--Distribution of remaining assets--Liability of persons winding up business.A business trust which has dissolved shall pay or make reasonable provision to pay all claims and obligations, including all contingent, conditional, or unmatured claims and obligations, known to the business trust and all claims and obligations which are known to the business trust but for which the identity of the claimant is unknown. If there are sufficient assets, such claims and obligations shall be paid in full and any such provision for payment shall be made in full. If there are insufficient assets, such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Unless otherwise provided in the governing instrument of a business trust, any remaining assets shall be distributed to the beneficial owners. Any person, including any trustee, who under the governing instrument of the business trust is responsible for winding up a business trust's affairs who has complied with this section shall not be personally liable to the claimants of the dissolved business trust by reason of such person's actions in winding up the business trust. Source: SL 2001, ch 245, §39.