47-14B-1. Laws governing organization of foreign business trust. 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 registration by reason of […]
47-14B-10. Correction of false application of foreign business trust. 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 Secretary […]
47-14B-11. Canceling a foreign business trust. 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 §47-14B-22. A cancellation does not terminate the authority of the secretary of state to […]
47-14B-12. Action, suit, or proceeding by foreign business trust. 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 […]
47-14B-13. Failure of foreign business trust to register. 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; […]
47-14B-14. Liability of beneficial owner or trustee of foreign business trust. 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.
47-14B-15. Jurisdiction of circuit court for failure to register or for false registration. 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 […]
47-14B-16. Application of §47-14A-51. Section 47-14A-51 is also applicable to foreign business trusts as if they were domestic business trusts. Source: SL 2001, ch 245, §112.
47-14B-17. Service of process on foreign business trust. 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 […]
47-14B-18. Service of process when due diligence fails. 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 […]
47-14B-19. Service of process on unregistered foreign business trust. 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 it […]
47-14B-2. Registration of foreign business trust. 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 registration as a […]
47-14B-20.”Doing business” defined. 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.
47-14B-21. Service upon secretary of state–Notice to foreign business trust. 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 […]
47-14B-22. Filing fees-Documents not effective until fee paid. 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 […]
47-14B-23. Application of chapter. 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 Office of the Secretary of […]
47-14B-24. Compliance with requirements–Violation. 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.
47-14B-25. Citation of chapter. This chapter may be cited as the South Dakota Foreign Business Trust Act. Source: SL 2001, ch 245, §121.
47-14B-3. Doing business in the state. 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.
47-14B-4. Certification and filing of application. 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 the word, Filed, and […]
