47-13A-2.1. Revocable trust as shareholder--Conditions.
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/sd/title-47/chapter-47-13/47-13a-2-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Notwithstanding any other provisions of this chapter, a revocable trust may be a shareholder in a corporation or limited liability company organized under this chapter, for so long as the grantor of the revocable trust is living and is eligible to be a shareholder of a corporation organized under this chapter. After the death of the grantor, the shares owned by a revocable trust are subject to any divestiture and redemption provisions of this chapter as if the shares were directly owned by the grantor of the trust.