47-11-3.1. Revocable trust as shareholder--Conditions.
Notwithstanding any other provisions of this chapter, a revocable trust may be a shareholder in a corporation or limited liability company organized under this chapter, for so long as the grantor of the revocable trust is living and is eligible to be a shareholder of a corporation organized under this chapter. After the death of the grantor, the shares owned by a revocable trust are subject to any divestiture and redemption provisions of this chapter as if the shares were directly owned by the grantor of the trust.
Source: SL 2002, ch 205, ยง1.
Structure South Dakota Codified Laws
Chapter 11 - Medical Corporations
Section 47-11-1.1 - Definition of terms.
Section 47-11-2 - Corporate name.
Section 47-11-3 - Medical license required for all officers, directors, and shareholders.
Section 47-11-3.1 - Revocable trust as shareholder--Conditions.
Section 47-11-4 - Death of shareholder--Computation of book value.
Section 47-11-5 - Contracts for personal services with licensed persons.
Section 47-11-6 - Employees subject to Medical Practice Act.
Section 47-11-7 - Certificate of registration required--Application for certificate--Contents.
Section 47-11-9 - Posting of certificate required.
Section 47-11-10 - Amending certificate upon change of location.
Section 47-11-11 - Certificate not assignable.
Section 47-11-12 - Annual renewal of certificate--Conditions.
Section 47-11-13 - Suspension or revocation of certificate--Grounds.
Section 47-11-14 - Notice and hearing required--Contents of notice.
Section 47-11-15 - Appeal from denial of certificate--Power of court on appeal.
Section 47-11-16 - Service of notice of appeal.
Section 47-11-17 - Physician-patient relationship unaffected.
Section 47-11-18 - Private corporations law as applicable.
Section 47-11-19 - Severability and saving clause.