47-14A-79. Power of business trust to acquire interest held by beneficial owner.Except to the extent otherwise provided in the governing instrument of a business trust, a business trust may acquire, by purchase, redemption, or otherwise, any beneficial interest in the business trust held by a beneficial owner of the business trust. Except to the extent otherwise provided in the governing instrument of a business trust, any such interest so acquired by a business trust shall be deemed canceled. Source: SL 2001, ch 245, §79.
South Dakota Legal Code