47-11B-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, ยง3.
Structure South Dakota Codified Laws
Chapter 11B - Optometric Corporations
Section 47-11B-1 - Optometric corporations and liability companies authorized.
Section 47-11B-1.1 - Definition of terms.
Section 47-11B-2 - Corporate name--Ethical standards.
Section 47-11B-3 - Optometric license required for officers, directors and shareholders.
Section 47-11B-3.1 - Revocable trust as shareholder--Conditions.
Section 47-11B-4 - Purchase at book value of shares of deceased or ineligible shareholder.
Section 47-11B-5 - Contracts for personal services with licensed optometrists.
Section 47-11B-6 - Professional services limited to licensed agents.
Section 47-11B-7 - Licensed employees subject to discipline under practice act.
Section 47-11B-8 - Certificate of registration required--Contents of application.
Section 47-11B-10 - Posting of certificate.
Section 47-11B-11 - Change of location of corporation--Certificate amended.
Section 47-11B-12 - Certificate not assignable.
Section 47-11B-13 - Annual renewal of certificate--Conditions.
Section 47-11B-14 - Suspension or revocation of certificate--Grounds.
Section 47-11B-15 - Suspension or revocation of certificate--Applicable procedure.
Section 47-11B-16 - Relationship with patient unchanged.
Section 47-11B-21.2 - Amendment of articles of incorporation to be consistent with law.
Section 47-11B-22 - Pension and insurance plans for employees--Restrictions on terms.