S.D. Codified Laws § 47-1A-902
This is the official text of S.D. Codified Laws § 47-1A-902, part of South Dakota’s Codified Laws — part of the compiled statutory law of South Dakota, published by the state as "Codified Laws." Browse the sections below, each linked to its official government source.
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Official statutory text
If a domestic or foreign business corporation or eligible entity is also governed by specific statutes such as insurance, banking, public utilities, and savings and loan provisions, the corporation or eligible entity cannot be a party to a transaction under §§ 47-1A-901 to 47-1A-956 , inclusive, without also complying with the requirements of such specific statutes.
Property held in trust or for charitable purposes under the laws of this state by a domestic or foreign eligible entity may not, by any transaction under §§ 47-1A-901 to 47-1A-956 , inclusive, be diverted from the objects for which it was donated, granted, or devised, unless and until the eligible entity obtains an order of the circuit court specifying the disposition of the property to the extent required by and pursuant to § 55-9-4 .
Source: SL 2005, ch 239, § 195.
Property held in trust or for charitable purposes under the laws of this state by a domestic or foreign eligible entity may not, by any transaction under §§ 47-1A-901 to 47-1A-956 , inclusive, be diverted from the objects for which it was donated, granted, or devised, unless and until the eligible entity obtains an order of the circuit court specifying the disposition of the property to the extent required by and pursuant to § 55-9-4 .
Source: SL 2005, ch 239, § 195.
Status: in_force · Read it on the official government site
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