South Dakota Codified Laws 47-14A-78. Absence of indemnity provision in governing instrument not conclusive
Current as of: 2023 | Check for updates
|
Other versions
The absence of a provision for indemnity in the governing instrument of a business trust may not be construed to deprive any trustee or beneficial owner or other person of any right to indemnity which is otherwise available to such person under the laws of this state.
Terms Used In South Dakota Codified Laws 47-14A-78
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Trustee: A person or institution holding and administering property in trust.
Source: SL 2001, ch 245, § 78.