Title 47 — CORPORATIONS

Source: SL 2001, ch 245 , § 112.

The laws of the state, territory, possession, or other jurisdiction or country under which a foreign business trust is organized govern its organization and internal affairs and the liability of its beneficial owners and trustees. A foreign business trust may not be denied regist…

If any statement in the application for registration of a foreign business trust was false when made or any arrangements or other facts described have changed, making the application false in any respect, the foreign business trust shall promptly file in the Office of the Secreta…

A foreign business trust may cancel its registration by filing with the secretary of state a certificate of cancellation, executed by a trustee or other authorized person, together with a fee as set forth in §

A foreign business trust doing business in the state may not maintain any action, suit, or proceeding in the state until it has registered in the state, and has paid to the state all fees and penalties for the years or parts thereof, during which it did business in the state with…

The failure of a foreign business trust to register in the state does not: (1) Impair the validity of any contract or act of the foreign business trust; (2) Impair the right of any other party to the contract to maintain any action, suit, or proceeding on the contract; or (3) Pre…

A beneficial owner or a trustee of a foreign business trust is not liable for the obligations of the foreign business trust solely by reason of the business trust's having done business in the state without registration. Source: SL 2001, ch 245 , § 110.

The circuit court shall have jurisdiction to enjoin any foreign business trust, or any agent thereof, from doing any business in the state if such foreign business trust has failed to register under this section or if such foreign business trust has secured a certificate of the s…

Application of §

Service of legal process upon any foreign business trust shall be made by delivering a copy personally to any trustee of the foreign business trust in the state or the registered agent of the foreign business trust in the state, or by leaving it at the dwelling house or usual pla…

In case the officer whose duty it is to serve legal process cannot by due diligence serve the process in any manner provided for by § 47-14B-17 , the process against the foreign business trust may be served upon the secretary of state, and such service shall be as effectual for a…

Any foreign business trust which does business in the state without having registered under this chapter shall be deemed to have thereby appointed and constituted the secretary of state its agent for the acceptance of legal process in any civil action, suit, or proceeding against…

Before doing business in the state, a foreign business trust shall register with the secretary of state. In order to register, a foreign business trust shall submit to the secretary of state: (1) A copy executed by a trustee or other authorized person of an application for regist…

Whenever the words, doing business, the doing of business, or business done in this state, by any such foreign business trust are used in this section, they mean the course or practice of carrying on any business activities in the state. Source: SL 2001, ch 245 , § 116.

In the event of service upon the secretary of state, the secretary of state shall forthwith notify the foreign business trust thereof by letter, certified mail, return receipt requested, directed to the foreign business trust at the address furnished to the secretary of state by …

No document required to be filed under this chapter is effective until the applicable fee required by this section is paid. The following fees shall be paid to and collected by the secretary of state for the use of the state: (1) Upon receipt for filing of an application for regi…

This chapter applies to all business trusts of the type described in this chapter now existing or hereafter created and all such business trusts existing on July 1, 2001, desiring to continue operations must have registered under the provisions of this chapter by filing in the Of…

No person may transact or conduct any business, within this state, under any business trust without first complying with the provisions and requirements of this chapter. A violation of this section is a Class 1 misdemeanor. Source: SL 2001, ch 245 , § 120.

This chapter may be cited as the South Dakota Foreign Business Trust Act. Source: SL 2001, ch 245 , § 121.

No person may be deemed to be doing business in the state solely by reason of being a trustee or a beneficial owner of a foreign business trust. Source: SL 2001, ch 245 , § 99.

If the secretary of state finds that an application for registration conforms to law and all requisite fees have been paid, the secretary of state shall: (1) Certify that the application has been filed in the secretary of state's office by endorsing upon the original application …

A foreign business trust may register with the secretary of state under any name (whether or not it is the name under which it is registered in the jurisdiction of its formation) that could be registered by a domestic business trust. However, a foreign business trust may register…

Each foreign business trust shall have and maintain in the state: (1) A registered office which may but need not be a place of its business in the state; and (2) A registered agent for service of process on the foreign business trust, which agent may be either an individual resid…

A registered agent may change the address of the registered office of the foreign business trust for which he or she is registered agent to another address in the state by paying a fee as set forth in § 47-14B-22 and filing with the secretary of state a certificate, executed by s…

The registered agent of one or more foreign business trusts may resign and appoint a successor registered agent by paying a fee as set forth in § 47-14B-22 and filing a certificate with the secretary of state, stating that it resigns and the name and address of the successor regi…

The registered agent of a foreign business trust may resign without appointing a successor registered agent by paying a fee as set forth in § 47-14B-22 and filing a certificate with the secretary of state stating that it resigns as registered agent for the foreign business trust …