In determining, for the purposes of SDCL 58-5-69, whether a person is the beneficial owner, directly or indirectly, or more than 10 percent of any class of any equity security, the interest of such person in the remainder of a trust shall be excluded from the computation.

Source: 4 SDR 6, effective August 9, 1977; 12 SDR 151, 12 SDR 155, effective July 1, 1986.

General Authority: SDCL 58-5-77.

Law Implemented: SDCL 58-5-69.