Section 47-14A-2 - Beneficial owner's contribution to business trust--Contribution not required. - South Dakota Statutes

47-14A-2. Beneficial owner's contribution to business trust--Contribution not required. A contribution of a beneficial owner to the business trust may be in cash, property, or services rendered, or a promissory note or other obligation to contribute cash or property or to perform services. However, a person may become a beneficial owner of a business trust and may receive a beneficial interest in a business trust without making a contribution or being obligated to make a contribution to the business trust.

Source: SL 2001, ch 245, § 2.