{"data":{"id":"us-sd/sdcl-47-14a-27","jurisdiction":"us-sd","citation":"SDCL § 47-14A-27","heading":"Officer or employer acting in reliance on governing instrument not liable--Duties determined by governing instrument.","body":"To the extent that, at law or in equity, an officer, employee, manager, or other person designated pursuant to subdivision 47-14A-25(7) has duties (including fiduciary duties) and liabilities relating thereto to a business trust, a beneficial owner, or a trustee:\n(1) Any such officer, employee, manager, or other person acting under a governing instrument is not liable to the business trust, any beneficial owner, or any trustee for such person's good faith reliance on the provisions of such governing instrument; and\n(2) The duties and liabilities of an officer, employee, manager, or other person acting pursuant to subdivision 47-14A-25(7) may be expanded or restricted by provisions in a governing instrument.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-14A. SOUTH DAKOTA BUSINESS TRUST ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-14A-27","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"a287099829917f4cba79db76333d956f24e5836b0a07777c6e57ca1e8f6a8894","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-14a-26","next":"us-sd/sdcl-47-14a-28"},"notice":"GroundRules: Original legal text. Not legal advice."}