South Dakota Codified Laws 47-1A-1102.5. Property held in trust or for charitable purposes–Disposition by court order
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Property held in trust or for charitable purposes under the laws of this state by a domestic or foreign eligible entity may not be diverted by a merger from the objects for which it was donated, granted, or devised, until the eligible entity obtains an order of circuit court specifying the disposition of the property to the extent required by and pursuant to § 55-9-4.
Terms Used In South Dakota Codified Laws 47-1A-1102.5
- Entity: includes domestic and foreign business corporation. See South Dakota Codified Laws 47-1A-140
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 2005, ch 239, § 254.