47-11E-5.1. 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, ยง6.
Structure South Dakota Codified Laws
Chapter 11E - Nursing Corporations
Section 47-11E-1.1 - Definition of terms.
Section 47-11E-2 - Formation of corporation authorized.
Section 47-11E-3 - Powers and privileges.
Section 47-11E-4 - Name of corporation or limited liability company.
Section 47-11E-5 - Shareholders must be licensed and engaged in practice of nursing.
Section 47-11E-5.1 - Revocable trust as shareholder--Conditions.
Section 47-11E-6 - Ineligible shareholder to dispose of shares.
Section 47-11E-7 - Qualifications of president, directors and officers.
Section 47-11E-12.2 - Amendment of articles of incorporation to be consistent with law.
Section 47-11E-13 - Filing of articles of incorporation.
Section 47-11E-14 - Corporations not to engage in practice of nursing outside of chapter.
Section 47-11E-16 - Standards of professional conduct--Compliance.
Section 47-11E-17 - Suspension of corporation or members from practice of nursing.
Section 47-11E-18 - Standards of professional conduct--Discipline.