47-14A-79. Power of business trust to acquire interest held by beneficial owner.
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/sd/title-47/chapter-47-14/47-14a-79A 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, 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.