South Dakota Codified Laws 47-14A-15. Circuit court jurisdiction over business trusts
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The circuit court has jurisdiction over business trusts to the same extent as it has jurisdiction over common law trusts formed under the laws of the state.
Terms Used In South Dakota Codified Laws 47-14A-15
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Source: SL 2001, ch 245, § 15.