47-14A-2. Beneficial owner's contribution to business trust--Contribution not required.
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/sd/title-47/chapter-47-14/47-14a-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A contribution of a beneficial owner to the business trust may be in cash, property, or services rendered, or a promissory note or other obligation to contribute cash or property or to perform services. However, a person may become a beneficial owner of a business trust and may receive a beneficial interest in a business trust without making a contribution or being obligated to make a contribution to the business trust.