S.D. Codified Laws § 47-14A-80

Current through the 2024 Legislative Session

Section 47-14A-80 - Beneficial owners entitled to obtain certain information

Except to the extent otherwise provided in the governing instrument of a business trust, each beneficial owner of a business trust has the right, subject to such reasonable standards (including standards governing what information and documents are to be furnished at what time and location and at whose expense) as may be established by the trustees, to obtain from the business trust from time to time upon reasonable demand for any purpose reasonably related to the beneficial owner's interest as a beneficial owner of the business trust:

(1) A copy of the governing instrument and certificate of trust and all amendments thereto, together with copies of any written powers of attorney pursuant to which the governing instrument and any certificate and any amendments thereto have been executed;

(2) A current list of the name and last known business, residence, or mailing address of each beneficial owner and trustee;

(3) Information regarding the business and financial condition of the business trust; and

(4) Other information regarding the affairs of the business trust as is just and reasonable.

SDCL 47-14A-80

SL 2001, ch 245, §80.