Section 47-14A-79 - Power of business trust to acquire interest held by beneficial owner. - South-dakota Statutes

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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.

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-14a > Statute-47-14a-79

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.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-14a > Statute-47-14a-79

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.