<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 55-1-5 - Express trust created as to trustee--Words and acts of trustee. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072500Normal { 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.s2072500SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072500CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072500Normal-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.s2072500DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072500Normal-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.s2072500000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072500SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072500SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2072500Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-5"><span class="s2072500SENU">55-1-5</span></a><span xml:space="preserve" class="s2072500SENU">. </span><span class="s2072500CL">Express trust created as to trustee--Words and acts of trustee.</span></p><p dir="ltr" class="s2072500Normal-000000"><span class="s2072500DefaultParagraphFont">An express trust is created as to the trustee by any words or acts of his, indicating with reasonable certainty:</span></p><p dir="ltr" class="s2072500Normal-000001"><span class="s2072500DefaultParagraphFont">(1)    His acceptance of the trust or his acknowledgment, made upon sufficient consideration, of its existence; and</span></p><p dir="ltr" class="s2072500Normal-000001"><span class="s2072500DefaultParagraphFont">(2)    The subject, purpose, and beneficiary thereof.</span></p><p dir="ltr" class="s2072500Normal"><span xml:space="preserve" class="s2072500000002"> </span></p><p dir="ltr" class="s2072500Normal"><span class="s2072500SCL">Source:</span><span xml:space="preserve" class="s2072500SCL-000003"> SDC 1939, § 59.0105.</span></p></div></body></html><br /><hr><br /><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 55-1-5 - Express trust created as to trustee--Words and acts of trustee. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072501Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072501SENU { font-family: 'Times New Roman', 'serif'; 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} </style></head><body><div><p dir="ltr" class="s2072501Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-5.1"><span class="s2072501SENU">55-1-5.1</span></a><span xml:space="preserve" class="s2072501SENU">. </span><span class="s2072501CL">Express trust need not be for exclusive benefit of beneficiaries.</span></p><p dir="ltr" class="s2072501Normal-000000"><span class="s2072501DefaultParagraphFont">The terms of an express trust need not be for the exclusive benefit of its beneficiaries, whether or not the beneficiaries are ascertainable.</span></p><p dir="ltr" class="s2072501Normal"><span xml:space="preserve" class="s2072501000001"> </span></p><p dir="ltr" class="s2072501Normal"><span class="s2072501SCL">Source:</span><span xml:space="preserve" class="s2072501SCL-000002"> SL 2017, ch 204, § 7.</span></p></div></body></html>