ARSD 20:06:04:12. Ownership of securities held in trust

Beneficial ownership of a security for the purpose of SDCL 58-5-69 shall include the ownership of: (1) Securities as a trustee where either the trustee or members of the trustee's immediate family have a vested interest in the income or corpus of the trust; (2) A vested beneficial interest in a trust; and (3) Securities as a settlor of a trust in which the settlor has the power to revoke the trust without obtaining the consent of all the beneficiaries.