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Code · South Dakota · Title 47 · Chapter 47-14

47-14A-7. Liability of officers, employees, and others managing business of trust.

61 words·~1 min read·/sd/title-47/chapter-47-14/47-14a-7

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Except to the extent otherwise provided in the governing instrument of a business trust, an officer, employee, manager, or other person acting pursuant to subdivision 47-14A-25(7), when acting in such capacity, is not personally liable to any person other than the business trust or a beneficial owner for any act, omission, or obligation of the business trust or any trustee thereof.
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