Section 47-14A-7 - Liability of officers, employees, and others managing business of trust. - South Dakota Statutes

47-14A-7. Liability of officers, employees, and others managing business of trust. Except to the extent otherwise provided in the governing instrument of a business trust, an officer, employee, manager, or other person acting pursuant to subdivision 47-14A-25(7), when acting in such capacity, is not personally liable to any person other than the business trust or a beneficial owner for any act, omission, or obligation of the business trust or any trustee thereof.

Source: SL 2001, ch 245, § 7.