South Dakota § 47-14A-21 - Beneficial owner entitled to distribution becomes creditor of business trust.
Full text of South Dakota South Dakota Codified Laws § 47-14A-21 — Beneficial owner entitled to distribution becomes creditor of business trust., with citation guidance and answers to common questions.
§ 47-14A-21. Beneficial owner entitled to distribution becomes creditor of business trust.
Except to the extent otherwise provided in the governing instrument of a business trust, at the time a beneficial owner becomes entitled to receive a distribution, the beneficial owner has the status of, and is entitled to all remedies available to, a creditor of the business trust with respect to the distribution. A governing instrument may provide for the establishment of record dates with respect to allocations and distributions by a business trust.
Source: SL 2001, ch 245, § 21.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 47-14A-21
What does South Dakota Codified Laws § 47-14A-21 cover?
Section 47-14A-21 ("Beneficial owner entitled to distribution becomes creditor of business trust.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 47-14A-21?
A common citation format is "South Dakota Codified Laws § 47-14A-21" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 47-14A-21 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.