<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1-22.4 - Application of §§ 55-1-21 to 55-1-21.9 to hybrid purpose trust--Exceptions. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072530Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2072530SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072530CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072530Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2072530DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072530Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2072530000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072530SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072530SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2072530Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-22.4"><span class="s2072530SENU">55-1-22.4</span></a><span xml:space="preserve" class="s2072530SENU">. </span><span xml:space="preserve" class="s2072530CL">Application of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21"><span class="s2072530CL">55-1-21</span></a><span xml:space="preserve" class="s2072530CL"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.9"><span class="s2072530CL">55-1-21.9</span></a><span xml:space="preserve" class="s2072530CL"> to hybrid purpose trust--Exceptions.</span></p><p dir="ltr" class="s2072530Normal-000000"><span xml:space="preserve" class="s2072530DefaultParagraphFont">The provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21"><span class="s2072530DefaultParagraphFont">55-1-21</span></a><span xml:space="preserve" class="s2072530DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.9"><span class="s2072530DefaultParagraphFont">55-1-21.9</span></a><span class="s2072530DefaultParagraphFont">, inclusive, apply to a hybrid purpose trust except that:</span></p><p dir="ltr" class="s2072530Normal-000001"><span xml:space="preserve" class="s2072530DefaultParagraphFont">(1)    Under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.1"><span class="s2072530DefaultParagraphFont">55-1-21.1</span></a><span class="s2072530DefaultParagraphFont">, except as otherwise provided in the governing instrument, a trust as described in subdivision 55-1-21(1) terminates when no living animal is covered by the trust unless the trust may continue for the benefit of the beneficiaries; and</span></p><p dir="ltr" class="s2072530Normal-000001"><span xml:space="preserve" class="s2072530DefaultParagraphFont">(2)    Under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.2"><span class="s2072530DefaultParagraphFont">55-1-21.2</span></a><span class="s2072530DefaultParagraphFont">, a court has no power to reduce the amount of trust property intended for or allocated to any beneficiaries or any charitable purposes.</span></p><p dir="ltr" class="s2072530Normal"><span xml:space="preserve" class="s2072530000002"> </span></p><p dir="ltr" class="s2072530Normal"><span class="s2072530SCL">Source:</span><span xml:space="preserve" class="s2072530SCL-000003"> SL 2018, ch 275, § 18.</span></p></div></body></html>