South Dakota Terms of Class One Preferred Stock

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Multi-State
Control #:
US-CC-4-291
Format:
Word; 
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This sample form, a detailed Terms of Class One Preferred Stock document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
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FAQ

South Dakota was the first state in the nation to abolish the Rule Against Perpetuities ? which prohibited unlimited-duration trusts ? in 1983, clearing the way for the creation of the Dynasty Trust.

South Dakota SD Codified L § 25-7-27 (2017) ?Adult child's duty to support parent when necessary? defines an adult child's legal obligation to provide care to a destitute parent. Care includes ?food, clothing, shelter, and medical attendance? for a parent in need.

Hear this out loud PauseSouth Dakota Care includes ?food, clothing, shelter, and medical attendance? for a parent in need. However, in South Dakota, this adult child is legally entitled to be notified before they can be held responsible for this duty. They are also liable for contributing to their parent's care.

Hear this out loud PauseA nursing home can't ?go after? a person's home or other assets. The way it works is that when a person goes into a nursing home they have to find a way to pay for the cost of their care. Most seniors have Medicare. But Medicare provides only limited nursing home benefits and only to people who need skilled care.

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South Dakota Terms of Class One Preferred Stock