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Statutes > South Dakota Laws > Title 55 - FIDUCIARIES AND TRUSTS > Chapter 09 - Charitable Trusts > Section 55-9-10 - Retention of excess business holdings prohibited.

STATE STATUTES & CODES

SOUTH DAKOTA STATUTES AND CODES

Section 55-9-10 - Retention of excess business holdings prohibited.

55-9-10. Retention of excess business holdings prohibited. The trustee of a trust described in § 55-9-7 shall not retain any excess business holdings which would give rise to any liability for the tax imposed by section 4943 (a) of the Internal Revenue Code.

Source: SL 1972, ch 259, § 2 (3).

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