<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sa966460fb96d4fba87dd392465f1fb77Normal { text-align: center; 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.sa966460fb96d4fba87dd392465f1fb77HG4 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sa966460fb96d4fba87dd392465f1fb77HG4C { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: 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content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/55-1"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77Normal"><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77HG4">CHAPTER </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1</span></a></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77Normal"><span class="sa966460fb96d4fba87dd392465f1fb77HG4C">CLASSIFICATION AND CREATION OF TRUSTS</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77Normal-000000"><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77000001"> </span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-1" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-1</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Purposes for which trust may be created.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-2" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-2</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Trusts classified.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-3" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-3</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Express trust defined.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-4" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-4</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Creation of express trust--Words or acts of trustor.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-5" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-5</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Express trust created as to trustee--Words and acts of trustee.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-5.1" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-5.1</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Express trust need not be for exclusive benefit of beneficiaries.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-6" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-6</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Implied trust--Definition--Creation.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-6.1" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-6.1</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Implied trust may not prejudice rights of real property purchaser or encumbrancer.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-7" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-7</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Wrongful detention creates implied trust.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-8" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-8</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Implied trust resulting from fraud, accident or wrongful act.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-9" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-9</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Implied trust created by transfer of property in violation of trust.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-10" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-10</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Transfer of real property to one for money paid by another--Trust presumed.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-11" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-11</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Implied trust--Declaration by court of equity.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-12" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-12</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Trustor, trustee, beneficiary, power of appointment, and person defined.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-13" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-13</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Voluntary trustee--Assumption of relationship.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-14" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-14</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Interest in existing trust--Transfer by operation of law or written instrument.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-15" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-15</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Certain trusts not terminated upon trustor's death.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-16" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-16</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1-16" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-16</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont"> to 55-1-19. Repealed by SL 2007, ch 280, §§ 21 to 24.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-20" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-20</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Trusts for noncharitable purposes.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Trust for care of animal, care of other property, or other lawful noncharitable purpose.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.1" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.1</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Termination of trust for care of animal.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.2" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.2</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Judicial reduction of property transferred to trustee if trust corpus exceeds amount required for intended purposes.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.3" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.3</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.4" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.4</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Enforcement of purpose of trust by enforcer.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.5" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.5</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Removal of enforcer.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.6" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.6</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Discretion of trustee of purpose trust.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.7" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.7</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Judicial designation of trustee--Order to carry out intent of trustor and purpose of trust.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.8" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.8</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Distribution of property upon termination of purpose of trust.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.9" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.9</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Filings, reports, accounting, separation of funds, appointment, and registration of purpose trust not required--Exceptions.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.10" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.10</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Trustee may not use principal and income other than for trust's purposes.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.11" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.11</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Co-enforcer appointment--Powers.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-22" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-22</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Hybrid purpose trusts valid.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-22.1" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-22.1</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-22.2" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-22.2</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Beneficiaries' share of a hybrid purpose trust.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-22.3" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-22.3</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Spendthrift provision in hybrid purpose trust--Qualified dispositions in trust.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-22.4" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-22.4</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Application of §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.9" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-21.9</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont"> to hybrid purpose trust--Exceptions.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-22.5" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-22.5</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Discretion of trustee of hybrid purpose trust.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-22.6" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-22.6</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Enforcer of hybrid purpose trust.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-23" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-23</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1-23" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-23</span></a><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">. Repealed by SL 2011, ch 212, § 41.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-24" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-24</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Definitions applicable to §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1-24" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-24</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1-45" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-45</span></a><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-24.1" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-24.1</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Improper motive.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-24.2" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-24.2</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Withdrawal power.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-25" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-25</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Distinction between discretionary trust and support trust--Creditor rights--Judicial review.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-26" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-26</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Judicial foreclosure of beneficial interests, powers of appointment, and reserved powers prohibited--Creditors may not reach powers of appointment or remainder interests.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-27" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-27</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Certain remainder interests not property interests.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-28" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-28</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Interest of beneficiary or others not reachable by creditors.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-29" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-29</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Trust property not subject to personal obligations of trustee.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-30" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-30</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Distribution and remainder interests not relevant to division of marital property.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-31" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-31</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Resources of settlor's spouse to be considered in making distribution from support trust--Other beneficiary's resources need not be considered.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-32" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-32</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Alter ego--Pierce the veil, dominion and control claims.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-33" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-33</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Repealed.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-34" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-34</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Provision that beneficial interest in trust income or principal may not be transferred before payment to beneficiary permissible.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-35" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-35</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Trust declaration that beneficiary's interest subject to spendthrift trust--Payment of beneficiary expenses.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-36" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-36</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Satisfaction of claims of settlor's creditors from trust estate if settlor is beneficiary.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-36.1" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-36.1</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Effect on creditor claims of trustee discretionary powers to pay taxes or make reimbursements for taxes.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-36.2" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-36.2</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Income tax reimbursement or payment--Excluded source--Effect--Liability--Fiduciary duty--Applicability.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-37" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-37</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Application of spendthrift provision.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-38" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-38</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Classification of distribution interest.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-38.1" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-38.1</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Classification of interest as support interest.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-39" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-39</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Bifurcation of trust.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-40" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-40</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Language resulting in classification of distribution interest.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-41" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-41</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Effect of spendthrift provision.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-42" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-42</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Mandatory or support interests.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-43" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-43</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Discretionary interests.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-44" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-44</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Action for fraudulent transfer of settlor's assets--Jurisdiction--Attorneys' fees and costs--Burden of proof.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-45" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-45</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Limitation of action for fraudulent transfer of settlor's assets.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-46" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-46</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    No contest clause defined--Enforceability.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-47" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-47</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Extrinsic evidence not admissible to establish settlor's intent concerning no contest clause.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-48" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-48</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Circumstances under which no contest clause unenforceable.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-49" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-49</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Contest regarding settlor's signature.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-50" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-50</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Attorneys fees and costs.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-51" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-51</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Applicability of §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1-46" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-46</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1-50" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-50</span></a><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-52" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-52</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Interest on general pecuniary devises.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-53" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-53</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Expansion, restriction, elimination, or variance of provisions of general application.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-54" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-54</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Arbitration.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-55" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-55</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Trust enforceable although not funded or without res, corpus, or assets.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-56" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-56</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Registration of trust in court at principal place of administration.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-57" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-57</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Contents of registration statement.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-58" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-58</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Confidentiality of registration.</span></p><p dir="ltr" class="sa966460fb96d4fba87dd392465f1fb77B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-59" rel="noopener"><span class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">55-1-59</span></a><span xml:space="preserve" class="sa966460fb96d4fba87dd392465f1fb77DefaultParagraphFont">    Trust registration form.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072496Normal { 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.s2072496SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072496CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072496Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072496DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072496000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072496SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072496SCL-000002 { 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="s2072496Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-1"><span class="s2072496SENU">55-1-1</span></a><span xml:space="preserve" class="s2072496SENU">. </span><span class="s2072496CL">Purposes for which trust may be created.</span></p><p dir="ltr" class="s2072496Normal-000000"><span xml:space="preserve" class="s2072496DefaultParagraphFont">Except as otherwise prescribed by chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=43-4"><span class="s2072496DefaultParagraphFont">43-4</span></a><span xml:space="preserve" class="s2072496DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=43-25"><span class="s2072496DefaultParagraphFont">43-25</span></a><span xml:space="preserve" class="s2072496DefaultParagraphFont"> relating to transfers, a trust may be created for any purpose for which a contract may lawfully be made.</span></p><p dir="ltr" class="s2072496Normal"><span xml:space="preserve" class="s2072496000001"> </span></p><p dir="ltr" class="s2072496Normal"><span class="s2072496SCL">Source:</span><span xml:space="preserve" class="s2072496SCL-000002"> CivC 1877, § 1293; CL 1887, § 3916; RCivC 1903, § 1612; RC 1919, § 1190; SDC 1939 § 59.0104; SL 2017, ch 204, § 4.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072497Normal { 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.s2072497SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072497CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072497Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072497DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072497000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072497SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072497SCL-000002 { 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="s2072497Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-2"><span class="s2072497SENU">55-1-2</span></a><span xml:space="preserve" class="s2072497SENU">. </span><span class="s2072497CL">Trusts classified.</span></p><p dir="ltr" class="s2072497Normal-000000"><span class="s2072497DefaultParagraphFont">A trust is either express or implied.</span></p><p dir="ltr" class="s2072497Normal"><span xml:space="preserve" class="s2072497000001"> </span></p><p dir="ltr" class="s2072497Normal"><span class="s2072497SCL">Source:</span><span xml:space="preserve" class="s2072497SCL-000002"> SDC 1939, § 59.0101.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072498Normal { 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.s2072498SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072498CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072498Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072498DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072498000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072498SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072498SCL-000002 { 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="s2072498Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-3"><span class="s2072498SENU">55-1-3</span></a><span xml:space="preserve" class="s2072498SENU">. </span><span class="s2072498CL">Express trust defined.</span></p><p dir="ltr" class="s2072498Normal-000000"><span class="s2072498DefaultParagraphFont">An express trust is an obligation arising out of a personal confidence reposed in and voluntarily accepted by one for the benefit of another.</span></p><p dir="ltr" class="s2072498Normal"><span xml:space="preserve" class="s2072498000001"> </span></p><p dir="ltr" class="s2072498Normal"><span class="s2072498SCL">Source:</span><span xml:space="preserve" class="s2072498SCL-000002"> SDC 1939, § 59.0101.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072499Normal { 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.s2072499SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072499CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072499Normal-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.s2072499DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072499Normal-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; } p.s2072499Normal-000002 { text-indent: 0.25in; 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.s2072499000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072499SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072499SCL-000004 { 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="s2072499Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-4"><span class="s2072499SENU">55-1-4</span></a><span xml:space="preserve" class="s2072499SENU">. </span><span class="s2072499CL">Creation of express trust--Words or acts of trustor.</span></p><p dir="ltr" class="s2072499Normal-000000"><span class="s2072499DefaultParagraphFont">An express trust is created as to the trustor and beneficiary by any words or acts of the trustor indicating with reasonable certainty:</span></p><p dir="ltr" class="s2072499Normal-000001"><span class="s2072499DefaultParagraphFont">(1)    An intention on the part of the trustor to create a trust; and</span></p><p dir="ltr" class="s2072499Normal-000001"><span class="s2072499DefaultParagraphFont">(2)    The subject, purpose, and beneficiary of the trust.</span></p><p dir="ltr" class="s2072499Normal-000002"><span class="s2072499DefaultParagraphFont">Any express trust that concerns real property shall also be evidenced in writing.</span></p><p dir="ltr" class="s2072499Normal"><span xml:space="preserve" class="s2072499000003"> </span></p><p dir="ltr" class="s2072499Normal"><span class="s2072499SCL">Source:</span><span xml:space="preserve" class="s2072499SCL-000004"> SDC 1939, § 59.0105; SL 2017, ch 204, § 5.</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 - CLASSIFICATION AND CREATION OF TRUSTS</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 - CLASSIFICATION AND CREATION OF TRUSTS</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'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072501CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072501Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072501DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072501000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072501SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072501SCL-000002 { 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="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><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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072502Normal { 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.s2072502SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072502CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072502Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072502DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072502000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072502SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072502SCL-000002 { 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="s2072502Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-6"><span class="s2072502SENU">55-1-6</span></a><span xml:space="preserve" class="s2072502SENU">. </span><span class="s2072502CL">Implied trust--Definition--Creation.</span></p><p dir="ltr" class="s2072502Normal-000000"><span xml:space="preserve" class="s2072502DefaultParagraphFont">An implied trust is one which is created by operation of law. An implied trust arises in the cases described in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-7"><span class="s2072502DefaultParagraphFont">55-1-7</span></a><span xml:space="preserve" class="s2072502DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-10"><span class="s2072502DefaultParagraphFont">55-1-10</span></a><span class="s2072502DefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s2072502Normal"><span xml:space="preserve" class="s2072502000001"> </span></p><p dir="ltr" class="s2072502Normal"><span class="s2072502SCL">Source:</span><span xml:space="preserve" class="s2072502SCL-000002"> SDC 1939, §§ 59.0101, 59.0102.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072503Normal { 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.s2072503SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072503CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072503Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072503DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072503000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072503SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072503SCL-000002 { 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="s2072503Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-6.1"><span class="s2072503SENU">55-1-6.1</span></a><span xml:space="preserve" class="s2072503SENU">. </span><span class="s2072503CL">Implied trust may not prejudice rights of real property purchaser or encumbrancer.</span></p><p dir="ltr" class="s2072503Normal-000000"><span class="s2072503DefaultParagraphFont">No implied trust may prejudice the rights of a purchaser or encumbrancer of real property for value and without notice of the trust.</span></p><p dir="ltr" class="s2072503Normal"><span xml:space="preserve" class="s2072503000001"> </span></p><p dir="ltr" class="s2072503Normal"><span class="s2072503SCL">Source:</span><span xml:space="preserve" class="s2072503SCL-000002"> SL 2017, ch 204, § 6.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072504Normal { 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.s2072504SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072504CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072504Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072504DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072504000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072504SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072504SCL-000002 { 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="s2072504Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-7"><span class="s2072504SENU">55-1-7</span></a><span xml:space="preserve" class="s2072504SENU">. </span><span class="s2072504CL">Wrongful detention creates implied trust.</span></p><p dir="ltr" class="s2072504Normal-000000"><span class="s2072504DefaultParagraphFont">One who wrongfully detains a thing is an implied trustee thereof for the benefit of the owner.</span></p><p dir="ltr" class="s2072504Normal"><span xml:space="preserve" class="s2072504000001"> </span></p><p dir="ltr" class="s2072504Normal"><span class="s2072504SCL">Source:</span><span xml:space="preserve" class="s2072504SCL-000002"> SDC 1939, § 59.0102 (1).</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072505Normal { 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.s2072505SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072505CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072505Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072505DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072505000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072505SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072505SCL-000002 { 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="s2072505Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-8"><span class="s2072505SENU">55-1-8</span></a><span xml:space="preserve" class="s2072505SENU">. </span><span class="s2072505CL">Implied trust resulting from fraud, accident or wrongful act.</span></p><p dir="ltr" class="s2072505Normal-000000"><span class="s2072505DefaultParagraphFont">One who gains a thing by fraud, accident, mistake, undue influence, the violation of a trust or other wrongful act, is, unless he has some other and better right thereto, an implied trustee of the thing gained for the benefit of the person who would otherwise have had it.</span></p><p dir="ltr" class="s2072505Normal"><span xml:space="preserve" class="s2072505000001"> </span></p><p dir="ltr" class="s2072505Normal"><span class="s2072505SCL">Source:</span><span xml:space="preserve" class="s2072505SCL-000002"> SDC 1939, § 59.0102 (2).</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072506Normal { 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.s2072506SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072506CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072506Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072506DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072506000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072506SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072506SCL-000002 { 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="s2072506Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-9"><span class="s2072506SENU">55-1-9</span></a><span xml:space="preserve" class="s2072506SENU">. </span><span class="s2072506CL">Implied trust created by transfer of property in violation of trust.</span></p><p dir="ltr" class="s2072506Normal-000000"><span class="s2072506DefaultParagraphFont">Everyone to whom property is transferred in violation of a trust holds the same as an implied trustee under such trust, unless he purchased it in good faith and for a valuable consideration.</span></p><p dir="ltr" class="s2072506Normal"><span xml:space="preserve" class="s2072506000001"> </span></p><p dir="ltr" class="s2072506Normal"><span class="s2072506SCL">Source:</span><span xml:space="preserve" class="s2072506SCL-000002"> SDC 1939, § 59.0102 (3).</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072507Normal { 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.s2072507SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072507CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072507Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072507DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072507000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072507SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072507SCL-000002 { 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="s2072507Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-10"><span class="s2072507SENU">55-1-10</span></a><span xml:space="preserve" class="s2072507SENU">. </span><span class="s2072507CL">Transfer of real property to one for money paid by another--Trust presumed.</span></p><p dir="ltr" class="s2072507Normal-000000"><span class="s2072507DefaultParagraphFont">When a transfer of real property is made to one person and the consideration therefor is paid by or for another, a trust is presumed to result in favor of the person by or for whom such payment is made.</span></p><p dir="ltr" class="s2072507Normal"><span xml:space="preserve" class="s2072507000001"> </span></p><p dir="ltr" class="s2072507Normal"><span class="s2072507SCL">Source:</span><span xml:space="preserve" class="s2072507SCL-000002"> SDC 1939, § 59.0102 (4).</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072508Normal { 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.s2072508SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072508CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072508Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072508DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072508000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072508SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072508SCL-000002 { 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="s2072508Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-11"><span class="s2072508SENU">55-1-11</span></a><span xml:space="preserve" class="s2072508SENU">. </span><span class="s2072508CL">Implied trust--Declaration by court of equity.</span></p><p dir="ltr" class="s2072508Normal-000000"><span xml:space="preserve" class="s2072508DefaultParagraphFont">The enumeration in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-7"><span class="s2072508DefaultParagraphFont">55-1-7</span></a><span xml:space="preserve" class="s2072508DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-10"><span class="s2072508DefaultParagraphFont">55-1-10</span></a><span class="s2072508DefaultParagraphFont">, inclusive, of cases wherein an implied trust arises does not exclude or prevent the arising of an implied trust in other cases nor prevent a court of equity from establishing and declaring an implied, resulting, or constructive trust in other cases and instances pursuant to the custom and practice of such courts.</span></p><p dir="ltr" class="s2072508Normal"><span xml:space="preserve" class="s2072508000001"> </span></p><p dir="ltr" class="s2072508Normal"><span class="s2072508SCL">Source:</span><span xml:space="preserve" class="s2072508SCL-000002"> SDC 1939, § 59.0102.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2083051Normal { 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.s2083051SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083051CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083051Statute { 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.s2083051DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083051000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083051NoIndent { text-indent: 0.00in; 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.s2083051DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083051SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 55-1-12 - Trustor, trustee, beneficiary, power of appointment, and person defined."><meta property="og:description" content="SDLRC Codified Law 55-1-12 - Trustor, trustee, beneficiary, power of appointment, and person defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=55-1-12"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s2083051Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-12" rel="noopener"><span class="s2083051SENU">55-1-12</span></a><span xml:space="preserve" class="s2083051SENU">. </span><span xml:space="preserve" class="s2083051CL">Trustor, trustee, beneficiary, power of appointment, and person defined. </span></p><p dir="ltr" class="s2083051Statute"><span xml:space="preserve" class="s2083051DefaultParagraphFont">The person whose confidence creates a trust is called the trustor; the person in whom the confidence is reposed is called the trustee; and the person for whose benefit the trust is created is called the beneficiary. As used in this title, except as specifically provided in chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-13" rel="noopener"><span class="s2083051DefaultParagraphFont">55-13</span></a><span xml:space="preserve" class="s2083051DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-13" rel="noopener"><span class="s2083051DefaultParagraphFont">55-13</span></a><span xml:space="preserve" class="s2083051DefaultParagraphFont">A, the term, beneficiary, means a person that has a present or future beneficial interest in a trust, vested or contingent. A person is not a beneficiary solely by reason of holding a power of appointment or by reason of the existence or exercise of a discretionary power described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-36.1" rel="noopener"><span class="s2083051DefaultParagraphFont">55-1-36.1</span></a><span xml:space="preserve" class="s2083051DefaultParagraphFont"> with respect to the person. As used in this title, except as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-26" rel="noopener"><span class="s2083051DefaultParagraphFont">55-1-26</span></a><span xml:space="preserve" class="s2083051DefaultParagraphFont">, the term, power of appointment, means a power, including a withdrawal power as defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-24.2" rel="noopener"><span class="s2083051DefaultParagraphFont">55-1-24.2</span></a><span xml:space="preserve" class="s2083051DefaultParagraphFont">, to direct the disposition of trust property, but does not include the authority of a trustee to make a distribution to a beneficiary. A power of appointment is held by the person to whom the power has been given and once granted to a person, is not capable of appropriation or of manual delivery. A power of appointment is a general power of appointment if it is exercisable in favor of the person holding the power, the person's estate, the person's creditors, or the creditors of the person's estate, whether or not the power is also exercisable in favor of others. A power of appointment is a nongeneral power of appointment if it is not a general power of appointment. A holder of a general or nongeneral power of appointment may not be deemed a fiduciary unless otherwise provided for in the trust instrument. As used in this chapter, the term, person, has the meaning set forth in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-4-1" rel="noopener"><span class="s2083051DefaultParagraphFont">55-4-1</span></a><span class="s2083051DefaultParagraphFont">.</span></p><p dir="ltr" class="s2083051Normal"><span xml:space="preserve" class="s2083051000000"> </span></p><p dir="ltr" class="s2083051NoIndent"><span xml:space="preserve" class="s2083051DefaultParagraphFont-000001">Source: </span><span class="s2083051SCL">SDC 1939, § 59.0103; SL 1998, ch 282, § 40; SL 2015, ch 240, § 9; SL 2016, ch 231, § 9; SL 2021, ch 207, § 12.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072510Normal { 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.s2072510SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072510CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072510Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072510DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072510000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072510SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072510SCL-000002 { 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="s2072510Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-13"><span class="s2072510SENU">55-1-13</span></a><span xml:space="preserve" class="s2072510SENU">. </span><span class="s2072510CL">Voluntary trustee--Assumption of relationship.</span></p><p dir="ltr" class="s2072510Normal-000000"><span xml:space="preserve" class="s2072510DefaultParagraphFont">Everyone who voluntarily assumes a relation of personal confidence with another is deemed a trustee within the meaning of this chapter and chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-2"><span class="s2072510DefaultParagraphFont">55-2</span></a><span xml:space="preserve" class="s2072510DefaultParagraphFont"> not only as to the person who reposes such confidence, but also as to all persons of whose affairs he thus acquires information which was given to such person in the like confidence or over whose affairs he, by such confidence, obtains any control.</span></p><p dir="ltr" class="s2072510Normal"><span xml:space="preserve" class="s2072510000001"> </span></p><p dir="ltr" class="s2072510Normal"><span class="s2072510SCL">Source:</span><span xml:space="preserve" class="s2072510SCL-000002"> SDC 1939, § 59.0103.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072511Normal { 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.s2072511SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072511CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072511Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072511DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072511000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072511SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072511SCL-000002 { 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="s2072511Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-14"><span class="s2072511SENU">55-1-14</span></a><span xml:space="preserve" class="s2072511SENU">. </span><span class="s2072511CL">Interest in existing trust--Transfer by operation of law or written instrument.</span></p><p dir="ltr" class="s2072511Normal-000000"><span class="s2072511DefaultParagraphFont">An interest in an existing trust can be transferred only by operation of law or by a written instrument subscribed by the person making the transfer or by his agent.</span></p><p dir="ltr" class="s2072511Normal"><span xml:space="preserve" class="s2072511000001"> </span></p><p dir="ltr" class="s2072511Normal"><span class="s2072511SCL">Source:</span><span xml:space="preserve" class="s2072511SCL-000002"> SDC 1939, § 59.0118.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072512Normal { 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.s2072512SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072512CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072512Normal-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.s2072512DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072512Normal-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.s2072512000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072512SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072512SCL-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="s2072512Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-15"><span class="s2072512SENU">55-1-15</span></a><span xml:space="preserve" class="s2072512SENU">. </span><span class="s2072512CL">Certain trusts not terminated upon trustor's death.</span></p><p dir="ltr" class="s2072512Normal-000000"><span class="s2072512DefaultParagraphFont">A trust which provides for one or more successor beneficiaries upon the death of the trustor is not invalid, merged or terminated if:</span></p><p dir="ltr" class="s2072512Normal-000001"><span class="s2072512DefaultParagraphFont">(1)    There is a trustor who is the sole trustee and the sole beneficiary during the trustor's lifetime; or</span></p><p dir="ltr" class="s2072512Normal-000001"><span class="s2072512DefaultParagraphFont">(2)    There are two or more trustors, one or more of whom is trustee, and the beneficial interest of the trust is in one or more of the trustors during the lifetime of the trustors.</span></p><p dir="ltr" class="s2072512Normal"><span xml:space="preserve" class="s2072512000002"> </span></p><p dir="ltr" class="s2072512Normal"><span class="s2072512SCL">Source:</span><span xml:space="preserve" class="s2072512SCL-000003"> SL 1991, ch 395, § 1.</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1 - CLASSIFICATION AND CREATION OF TRUSTS55-1-16 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 55-1-16 "> <META NAME="Description" Content="South Dakota Codified Laws 55-1-16"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 55-1-16 to 55-1-19. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2007, ch 280, &#167;&#167;&nbsp;21 to 24.<p> </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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072514Normal { 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.s2072514SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072514CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072514Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072514DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072514000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072514SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072514SCL-000002 { 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="s2072514Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-20"><span class="s2072514SENU">55-1-20</span></a><span xml:space="preserve" class="s2072514SENU">. </span><span class="s2072514CL">Trusts for noncharitable purposes.</span></p><p dir="ltr" class="s2072514Normal-000000"><span xml:space="preserve" class="s2072514DefaultParagraphFont">Subdivisions 55-1-4(2) and 55-1-5(2) notwithstanding, a purpose trust may be performed pursuant to this section and §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21"><span class="s2072514DefaultParagraphFont">55-1-21</span></a><span xml:space="preserve" class="s2072514DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-22.6"><span class="s2072514DefaultParagraphFont">55-1-22.6</span></a><span class="s2072514DefaultParagraphFont">, inclusive, if the trust is for a lawful noncharitable purpose or purposes. Any property may form a part or all of the trust estate, including some, all, or an interest in some or all of the property that is the subject or purpose of a purpose trust. A governing instrument of such a trust shall be liberally construed in favor of its validity to presume against the merely precatory or honorary nature of the disposition and to carry out the trustor's intent. If necessary, extrinsic evidence is admissible to determine the trustor's intent. Neither the common law rule against perpetuities, nor any rule restricting the accumulation of income, nor any common law rule limiting the duration of noncharitable purpose trusts is in force in this state.</span></p><p dir="ltr" class="s2072514Normal"><span xml:space="preserve" class="s2072514000001"> </span></p><p dir="ltr" class="s2072514Normal"><span class="s2072514SCL">Source:</span><span xml:space="preserve" class="s2072514SCL-000002"> SL 2006, ch 247, § 1; SL 2008, ch 257, § 1; SL 2011, ch 212, § 40; SL 2018, ch 275, § 2.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072515Normal { 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.s2072515SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072515CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072515Normal-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.s2072515DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072515Normal-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.s2072515000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072515SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072515SCL-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="s2072515Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21"><span class="s2072515SENU">55-1-21</span></a><span xml:space="preserve" class="s2072515SENU">. </span><span class="s2072515CL">Trust for care of animal, care of other property, or other lawful noncharitable purpose.</span></p><p dir="ltr" class="s2072515Normal-000000"><span class="s2072515DefaultParagraphFont">The following purpose trusts are valid:</span></p><p dir="ltr" class="s2072515Normal-000001"><span class="s2072515DefaultParagraphFont">(1)    A trust for the care of a designated animal or animals;</span></p><p dir="ltr" class="s2072515Normal-000001"><span class="s2072515DefaultParagraphFont">(2)    A trust for the care, maintenance, promotion, continuation, conservation, upkeep, protection, furtherance, or preservation of any other property; and</span></p><p dir="ltr" class="s2072515Normal-000001"><span class="s2072515DefaultParagraphFont">(3)    A trust for any other lawful noncharitable purpose or purposes.</span></p><p dir="ltr" class="s2072515Normal"><span xml:space="preserve" class="s2072515000002"> </span></p><p dir="ltr" class="s2072515Normal"><span class="s2072515SCL">Source:</span><span xml:space="preserve" class="s2072515SCL-000003"> SL 2006, ch 247, § 2; SL 2018, ch 275, § 3.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072516Normal { 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.s2072516SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072516CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072516Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072516DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072516000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072516SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072516SCL-000002 { 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="s2072516Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.1"><span class="s2072516SENU">55-1-21.1</span></a><span xml:space="preserve" class="s2072516SENU">. </span><span class="s2072516CL">Termination of trust for care of animal.</span></p><p dir="ltr" class="s2072516Normal-000000"><span class="s2072516DefaultParagraphFont">Except as otherwise provided in the governing instrument, a trust described in subdivision 55-1-21(1) terminates when no living animal is covered by the trust.</span></p><p dir="ltr" class="s2072516Normal"><span xml:space="preserve" class="s2072516000001"> </span></p><p dir="ltr" class="s2072516Normal"><span class="s2072516SCL">Source:</span><span xml:space="preserve" class="s2072516SCL-000002"> SL 2018, ch 275, § 4.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072517Normal { 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.s2072517SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072517CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072517Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072517DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072517000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072517SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072517SCL-000002 { 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="s2072517Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.2"><span class="s2072517SENU">55-1-21.2</span></a><span xml:space="preserve" class="s2072517SENU">. </span><span class="s2072517CL">Judicial reduction of property transferred to trustee if trust corpus exceeds amount required for intended purposes.</span></p><p dir="ltr" class="s2072517Normal-000000"><span xml:space="preserve" class="s2072517DefaultParagraphFont">A court may reasonably reduce the amount of the property transferred to the trustee of a purpose trust if the court determines that the trust corpus substantially exceeds the amount required for the intended purposes. The court should consider allowing the trust to be administered for a reasonable period of time before undertaking a determination. The amount of the reduction, if any, passes as unexpended trust property, as set forth in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.8"><span class="s2072517DefaultParagraphFont">55-1-21.8</span></a><span class="s2072517DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072517Normal"><span xml:space="preserve" class="s2072517000001"> </span></p><p dir="ltr" class="s2072517Normal"><span class="s2072517SCL">Source:</span><span xml:space="preserve" class="s2072517SCL-000002"> SL 2018, ch 275, § 5.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072518Normal { 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.s2072518SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072518CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072518Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072518DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072518000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072518SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072518SCL-000002 { 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="s2072518Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.3"><span class="s2072518SENU">55-1-21.3</span></a><span xml:space="preserve" class="s2072518SENU">. </span><span class="s2072518CL">Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.</span></p><p dir="ltr" class="s2072518Normal-000000"><span class="s2072518DefaultParagraphFont">If the court finds that the fulfillment of the purposes are or have become impossible, inexpedient, or unlawful, the court shall make an order directing that the trust be administered in such manner as, in the judgment of the court, will, as nearly as can be, accomplish the general purposes, the objects, and intentions of the trustor.</span></p><p dir="ltr" class="s2072518Normal"><span xml:space="preserve" class="s2072518000001"> </span></p><p dir="ltr" class="s2072518Normal"><span class="s2072518SCL">Source:</span><span xml:space="preserve" class="s2072518SCL-000002"> SL 2018, ch 275, § 6.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2079858Normal { 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.s2079858SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079858CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2079858Statute { 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.s2079858DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } a.s2079858000000 { text-decoration: none; } span.s2079858000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079858DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079858SCL { 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="s2079858Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.4"><span class="s2079858SENU">55-1-21.4</span></a><span xml:space="preserve" class="s2079858SENU">. </span><span class="s2079858CL">Enforcement of purpose of trust by enforcer.</span></p><p dir="ltr" class="s2079858Statute"><span xml:space="preserve" class="s2079858DefaultParagraphFont">The purposes of a purpose trust shall be enforced by an enforcer designated in the governing instrument. An enforcer may demand reasonable information related to the administration of the trust from the trustee, including a periodic accounting. If no enforcer or successor enforcer is acting pursuant to the terms of the governing instrument the court shall appoint one or more enforcers and successor enforcers. No purpose trust may fail for want of an enforcer. An enforcer may petition for, consent to, waive, or object to any matter regarding a purpose trust with regard to the purpose of the trust which the enforcer represents or concerning the administration of the purpose trust. An enforcer is a fiduciary whose duty is to enforce the trust's purpose as set forth in the governing instrument and, except as otherwise provided in the governing instrument, is entitled to reasonable compensation. An enforcer may also serve as a trust protector or a family advisor pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1B"><span class="s2079858DefaultParagraphFont">55-1B</span></a><span xml:space="preserve" class="s2079858DefaultParagraphFont">. However, an enforcer may not serve as an enforcer while serving as a trustee or a distribution trust advisor of the same trust. Except as otherwise provided in </span><a id="_pagenumber2" class="s2079858000000"></a><span class="s2079858DefaultParagraphFont">the governing instrument, if more than one enforcer is acting, action may be taken by a majority of the enforcers.</span></p><p dir="ltr" class="s2079858Normal"><span xml:space="preserve" class="s2079858000001"> </span></p><p dir="ltr" class="s2079858Normal"><span xml:space="preserve" class="s2079858DefaultParagraphFont-000002">Source: </span><span class="s2079858SCL">SL 2018, ch 275, § 7; SL 2020, ch 206, § 1.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2079872Normal { 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.s2079872SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079872CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2079872Statute { 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.s2079872DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2079872StatuteNumber1 { 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; } p.s2079872Statute-000000 { text-indent: 0.25in; 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.s2079872000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079872DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079872SCL { 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="s2079872Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.5"><span class="s2079872SENU">55-1-21.5</span></a><span xml:space="preserve" class="s2079872SENU">. </span><span class="s2079872CL">Removal of enforcer.</span></p><p dir="ltr" class="s2079872Statute"><span class="s2079872DefaultParagraphFont">A trustee may petition the court for the removal of an enforcer. An enforcer may be removed if the court finds:</span></p><p dir="ltr" class="s2079872StatuteNumber1"><span class="s2079872DefaultParagraphFont">(1)    The enforcer committed a serious breach of the enforcer's duty, or is unfit or unwilling to serve;</span></p><p dir="ltr" class="s2079872StatuteNumber1"><span class="s2079872DefaultParagraphFont">(2)    A significant and unjustified lack of cooperation or hostility between the enforcer and the trustee, trust protector, or trust advisor; or</span></p><p dir="ltr" class="s2079872StatuteNumber1"><span class="s2079872DefaultParagraphFont">(3)    There has been a substantial change in circumstances and removal of the enforcer would best serve the purpose or purposes of the trust.</span></p><p dir="ltr" class="s2079872Statute-000000"><span class="s2079872DefaultParagraphFont">The governing instrument may provide different or additional procedures for the removal of an enforcer.</span></p><p dir="ltr" class="s2079872Normal"><span xml:space="preserve" class="s2079872000001"> </span></p><p dir="ltr" class="s2079872Normal"><span xml:space="preserve" class="s2079872DefaultParagraphFont-000002">Source: </span><span class="s2079872SCL">SL 2018, ch 275, § 8; SL 2020, ch 206, § 2.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072521Normal { 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.s2072521SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072521CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072521Normal-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.s2072521DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072521Normal-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.s2072521000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072521SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072521SCL-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="s2072521Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.6"><span class="s2072521SENU">55-1-21.6</span></a><span xml:space="preserve" class="s2072521SENU">. </span><span class="s2072521CL">Discretion of trustee of purpose trust.</span></p><p dir="ltr" class="s2072521Normal-000000"><span class="s2072521DefaultParagraphFont">Except as otherwise provided in the governing instrument, a trustee of a purpose trust is vested with full discretion in:</span></p><p dir="ltr" class="s2072521Normal-000001"><span class="s2072521DefaultParagraphFont">(1)    Interpreting the purposes of the trust consistent with the terms of the governing instrument; and</span></p><p dir="ltr" class="s2072521Normal-000001"><span class="s2072521DefaultParagraphFont">(2)    Applying, distributing, or expending principal and income to further the trust's purposes.</span></p><p dir="ltr" class="s2072521Normal"><span xml:space="preserve" class="s2072521000002"> </span></p><p dir="ltr" class="s2072521Normal"><span class="s2072521SCL">Source:</span><span xml:space="preserve" class="s2072521SCL-000003"> SL 2018, ch 275, § 9.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072522Normal { 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.s2072522SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072522CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072522Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072522DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072522000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072522SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072522SCL-000002 { 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="s2072522Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.7"><span class="s2072522SENU">55-1-21.7</span></a><span xml:space="preserve" class="s2072522SENU">. </span><span class="s2072522CL">Judicial designation of trustee--Order to carry out intent of trustor and purpose of trust.</span></p><p dir="ltr" class="s2072522Normal-000000"><span xml:space="preserve" class="s2072522DefaultParagraphFont">If no trustee is designated or no designated trustee is willing or able to serve, a court shall name a trustee. A court may order the transfer of the property to another trustee if required to ensure that the intended purposes are carried out or if no successor trustee is designated in the governing instrument or no designated successor trustee agrees to serve or is able to serve. A court may also make such other orders and determinations as are advisable to carry out the intent of the trustor and the purpose of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-20"><span class="s2072522DefaultParagraphFont">55-1-20</span></a><span xml:space="preserve" class="s2072522DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-22.6"><span class="s2072522DefaultParagraphFont">55-1-22.6</span></a><span class="s2072522DefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s2072522Normal"><span xml:space="preserve" class="s2072522000001"> </span></p><p dir="ltr" class="s2072522Normal"><span class="s2072522SCL">Source:</span><span xml:space="preserve" class="s2072522SCL-000002"> SL 2018, ch 275, § 10.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072523Normal { 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.s2072523SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072523CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072523Normal-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.s2072523DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072523Normal-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.s2072523000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072523SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072523SCL-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="s2072523Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.8"><span class="s2072523SENU">55-1-21.8</span></a><span xml:space="preserve" class="s2072523SENU">. </span><span class="s2072523CL">Distribution of property upon termination of purpose of trust.</span></p><p dir="ltr" class="s2072523Normal-000000"><span class="s2072523DefaultParagraphFont">Upon termination of a purpose trust, the trustee shall distribute any remaining trust property as directed in the governing instrument. Only in the event that the governing instrument is silent shall the trustee, upon termination of a purpose trust, distribute any remaining trust property as follows:</span></p><p dir="ltr" class="s2072523Normal-000001"><span xml:space="preserve" class="s2072523DefaultParagraphFont">(1)    If the trust was created in a nonresiduary clause in a testator's will and the will fails to direct the distribution of unexpended trust property, then under the residuary clause of the testator's will, and for the purposes of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=29A-2-707"><span class="s2072523DefaultParagraphFont">29A-2-707</span></a><span class="s2072523DefaultParagraphFont">, the residuary clause is treated as creating a future interest under the terms of a trust; and</span></p><p dir="ltr" class="s2072523Normal-000001"><span xml:space="preserve" class="s2072523DefaultParagraphFont">(2)    Otherwise, to the trustor's heirs under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=29A-2-711"><span class="s2072523DefaultParagraphFont">29A-2-711</span></a><span class="s2072523DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072523Normal"><span xml:space="preserve" class="s2072523000002"> </span></p><p dir="ltr" class="s2072523Normal"><span class="s2072523SCL">Source:</span><span xml:space="preserve" class="s2072523SCL-000003"> SL 2018, ch 275, § 11.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2079871Normal { 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.s2079871SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079871CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2079871Statute { 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.s2079871DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079871000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079871DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079871SCL { 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="s2079871Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.9"><span class="s2079871SENU">55-1-21.9</span></a><span xml:space="preserve" class="s2079871SENU">. </span><span class="s2079871CL">Filings, reports, accounting, separation of funds, appointment, and registration of purpose trust not required--Exceptions.</span></p><p dir="ltr" class="s2079871Statute"><span xml:space="preserve" class="s2079871DefaultParagraphFont">Except as may be demanded by an enforcer under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.4"><span class="s2079871DefaultParagraphFont">55-1-21.4</span></a><span class="s2079871DefaultParagraphFont">, ordered by the court or required by the governing instrument, no filings, reports, periodic accounting, separate maintenance of funds, appointment, or registration of a purpose trust are required.</span></p><p dir="ltr" class="s2079871Normal"><span xml:space="preserve" class="s2079871000000"> </span></p><p dir="ltr" class="s2079871Normal"><span xml:space="preserve" class="s2079871DefaultParagraphFont-000001">Source: </span><span class="s2079871SCL">SL 2018, ch 275, § 12; SL 2020, ch 206, § 3.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072525Normal { 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.s2072525SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072525CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072525Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072525DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072525000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072525SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072525SCL-000002 { 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="s2072525Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.10"><span class="s2072525SENU">55-1-21.10</span></a><span xml:space="preserve" class="s2072525SENU">. </span><span class="s2072525CL">Trustee may not use principal and income other than for trust's purposes.</span></p><p dir="ltr" class="s2072525Normal-000000"><span class="s2072525DefaultParagraphFont">Except as expressly provided otherwise in the trust instrument, no portion of the principal or income may be converted to the use of the trustee or to any use other than for the trust's purposes or the benefit of a covered animal.</span></p><p dir="ltr" class="s2072525Normal"><span xml:space="preserve" class="s2072525000001"> </span></p><p dir="ltr" class="s2072525Normal"><span class="s2072525SCL">Source:</span><span xml:space="preserve" class="s2072525SCL-000002"> SL 2018, ch 275, § 13.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s9e039b8e8e1043e6b153c9cd4e26e4ccNormal { 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.s9e039b8e8e1043e6b153c9cd4e26e4ccSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9e039b8e8e1043e6b153c9cd4e26e4ccCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s9e039b8e8e1043e6b153c9cd4e26e4ccStatute { 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.s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s9e039b8e8e1043e6b153c9cd4e26e4cc000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s9e039b8e8e1043e6b153c9cd4e26e4ccNoIndent { text-indent: 0.00in; 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.s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9e039b8e8e1043e6b153c9cd4e26e4ccSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 55-1-21.11 - Co-enforcer appointment--Powers."><meta property="og:description" content="SDLRC Codified Law 55-1-21.11 - Co-enforcer appointment--Powers."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=55-1-21.11"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s9e039b8e8e1043e6b153c9cd4e26e4ccNormal"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-21.11" rel="noopener"><span class="s9e039b8e8e1043e6b153c9cd4e26e4ccSENU">55-1-21.11</span></a><span xml:space="preserve" class="s9e039b8e8e1043e6b153c9cd4e26e4ccSENU">. </span><span class="s9e039b8e8e1043e6b153c9cd4e26e4ccCL">Co-enforcer appointment--Powers.</span></p><p dir="ltr" class="s9e039b8e8e1043e6b153c9cd4e26e4ccStatute"><span class="s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont">Unless specifically restricted by the governing instrument, an enforcer may appoint an individual or a corporate fiduciary as a co-enforcer. The appointed co-enforcer may serve only as long as the appointing enforcer serves, or as long as the last to serve if more than one enforcer appointed the co-enforcer. The appointed co-enforcer may not become a successor enforcer upon the death, resignation, or incapacity of the appointing enforcer, unless appointed under the terms of the governing instrument or unless no other successor enforcer, or method for appointing a successor enforcer, is provided in the governing instrument.</span></p><p dir="ltr" class="s9e039b8e8e1043e6b153c9cd4e26e4ccStatute"><span class="s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont">The powers and the responsibilities of the appointed co-enforcer may be limited by the appointing enforcer in a writing signed by the appointing enforcer at the time of the appointment. If the powers or responsibilities are so limited, the powers or responsibilities of the co-enforcer shall be limited as set forth in writing. Unless the powers or responsibilities are so limited, the appointed co-enforcer may exercise all the powers of the appointing enforcer. The combined powers of the appointed co-enforcer and the appointing enforcer may not exceed the powers of the appointing enforcer alone. The enforcer appointing a co-enforcer may, in writing, revoke the appointment at any time, with or without cause.</span></p><p dir="ltr" class="s9e039b8e8e1043e6b153c9cd4e26e4ccStatute"><span class="s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont">Unless specifically restricted by the governing instrument, if the governing instrument gives a fiduciary other than the enforcer the power to remove and replace the enforcer, such power includes the power to appoint a co-enforcer to serve with the current enforcer.</span></p><p dir="ltr" class="s9e039b8e8e1043e6b153c9cd4e26e4ccStatute"><span xml:space="preserve" class="s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont">If an appointment under this section confers upon the appointed co-enforcer, to the exclusion of another co-enforcer, the power to take certain actions, including the power to direct or prevent certain actions of the enforcers, the limitations on liability and the relief from duties and obligations afforded an excluded fiduciary under § </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1B-2" rel="noopener"><span class="s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont">55-1B-2</span></a><span xml:space="preserve" class="s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont"> apply to a co-enforcer who does not hold such power.</span></p><p dir="ltr" class="s9e039b8e8e1043e6b153c9cd4e26e4ccStatute"><span xml:space="preserve" class="s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont">If the governing instrument is silent concerning the enforcer's power to appoint a co-enforcer, the enforcer shall notify in writing, the trustor, if living, the current trustee or trustees, and any trust protector, trust advisors, and co-enforcers at least thirty days prior to the effective date of the enforcer's exercise of the power granted under this section. The notice, which shall include a copy of the proposed action, shall advise the trustor, the current trustee or trustees, trust protector, trust advisors, or co-enforcers that if they object to the enforcer's appointment, they need to file a written objection with the enforcer prior to the effective date set out in the notice of the proposed action. If an objection is received by the enforcer, prior to the effective date of the appointment, the enforcer may not appoint a co-enforcer. However, this section does not limit the power of the enforcer under law to petition the court for approval of the appointment. If no objection has been timely made, the proposed appointment becomes effective on the later of the date set out in the notice or thirty days after notice has been given. The notice shall be sent by any means allowed under the terms of the trust instrument or authorized in § </span><a href="https://sdlegislature.gov/Statutes?Statute=55-2-24" rel="noopener"><span class="s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont">55-2-24</span></a><span xml:space="preserve" class="s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont"> to the trustor, the current trustee or trustees, trust protector, trust advisors, or co-enforcers.</span></p><p dir="ltr" class="s9e039b8e8e1043e6b153c9cd4e26e4ccStatute"><span class="s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont">The provisions of this section are effective for trusts created before, on, or after July 1, 2023, except as otherwise directed by the trustor, current trustee or trustees, trust protector, trust advisors, or other fiduciary designated by the terms of the trust.</span></p><p dir="ltr" class="s9e039b8e8e1043e6b153c9cd4e26e4ccNormal"><span xml:space="preserve" class="s9e039b8e8e1043e6b153c9cd4e26e4cc000000"> </span></p><p dir="ltr" class="s9e039b8e8e1043e6b153c9cd4e26e4ccNoIndent"><span xml:space="preserve" class="s9e039b8e8e1043e6b153c9cd4e26e4ccDefaultParagraphFont-000001">Source: </span><span class="s9e039b8e8e1043e6b153c9cd4e26e4ccSCL">SL 2023, ch 161, § 2.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072526Normal { 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.s2072526SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072526CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072526Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072526DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072526000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072526SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072526SCL-000002 { 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="s2072526Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-22"><span class="s2072526SENU">55-1-22</span></a><span xml:space="preserve" class="s2072526SENU">. </span><span class="s2072526CL">Hybrid purpose trusts valid.</span></p><p dir="ltr" class="s2072526Normal-000000"><span xml:space="preserve" class="s2072526DefaultParagraphFont">A hybrid purpose trust which meets the description of a purpose trust in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-20"><span class="s2072526DefaultParagraphFont">55-1-20</span></a><span xml:space="preserve" class="s2072526DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.10"><span class="s2072526DefaultParagraphFont">55-1-21.10</span></a><span class="s2072526DefaultParagraphFont">, inclusive, also includes one or more beneficiaries is valid and may be performed.</span></p><p dir="ltr" class="s2072526Normal"><span xml:space="preserve" class="s2072526000001"> </span></p><p dir="ltr" class="s2072526Normal"><span class="s2072526SCL">Source:</span><span xml:space="preserve" class="s2072526SCL-000002"> SL 2006, ch 247, § 3; SL 2018, ch 275, § 14.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072527Normal { 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.s2072527SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072527CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072527Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072527DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072527000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072527SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072527SCL-000002 { 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="s2072527Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-22.1"><span class="s2072527SENU">55-1-22.1</span></a><span xml:space="preserve" class="s2072527SENU">. </span><span class="s2072527CL">Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust.</span></p><p dir="ltr" class="s2072527Normal-000000"><span class="s2072527DefaultParagraphFont">In a hybrid purpose trust when the interests of the beneficiaries and purposes are concurrent, the trustee shall maintain not less than two separate shares, one for the beneficiaries; and a second for the purposes, and the trustee may be liable to the beneficiaries for the actual damages caused thereby, if any, for failing to do so.</span></p><p dir="ltr" class="s2072527Normal"><span xml:space="preserve" class="s2072527000001"> </span></p><p dir="ltr" class="s2072527Normal"><span class="s2072527SCL">Source:</span><span xml:space="preserve" class="s2072527SCL-000002"> SL 2018, ch 275, § 15.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072528Normal { 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.s2072528SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072528CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072528Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072528DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072528000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072528SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072528SCL-000002 { 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="s2072528Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-22.2"><span class="s2072528SENU">55-1-22.2</span></a><span xml:space="preserve" class="s2072528SENU">. </span><span class="s2072528CL">Beneficiaries' share of a hybrid purpose trust.</span></p><p dir="ltr" class="s2072528Normal-000000"><span xml:space="preserve" class="s2072528DefaultParagraphFont">The beneficiaries' share of a hybrid purpose trust is governed by §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=43-5-8"><span class="s2072528DefaultParagraphFont">43-5-8</span></a><span xml:space="preserve" class="s2072528DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=43-6-7"><span class="s2072528DefaultParagraphFont">43-6-7</span></a><span class="s2072528DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072528Normal"><span xml:space="preserve" class="s2072528000001"> </span></p><p dir="ltr" class="s2072528Normal"><span class="s2072528SCL">Source:</span><span xml:space="preserve" class="s2072528SCL-000002"> SL 2018, ch 275, § 16.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072529Normal { 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.s2072529SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072529CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072529Normal-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.s2072529DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072529Normal-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.s2072529000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072529SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072529SCL-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="s2072529Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-22.3"><span class="s2072529SENU">55-1-22.3</span></a><span xml:space="preserve" class="s2072529SENU">. </span><span class="s2072529CL">Spendthrift provision in hybrid purpose trust--Qualified dispositions in trust.</span></p><p dir="ltr" class="s2072529Normal-000000"><span class="s2072529DefaultParagraphFont">A hybrid purpose trust may:</span></p><p dir="ltr" class="s2072529Normal-000001"><span class="s2072529DefaultParagraphFont">(1)    Contain a spendthrift provision; and</span></p><p dir="ltr" class="s2072529Normal-000001"><span xml:space="preserve" class="s2072529DefaultParagraphFont">(2)    Also qualify as a trust described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-16-2"><span class="s2072529DefaultParagraphFont">55-16-2</span></a><span class="s2072529DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072529Normal"><span xml:space="preserve" class="s2072529000002"> </span></p><p dir="ltr" class="s2072529Normal"><span class="s2072529SCL">Source:</span><span xml:space="preserve" class="s2072529SCL-000003"> SL 2018, ch 275, § 17.</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 - CLASSIFICATION AND CREATION OF TRUSTS</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; } </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><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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072531Normal { 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.s2072531SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072531CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072531Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072531DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072531000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072531SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072531SCL-000002 { 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="s2072531Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-22.5"><span class="s2072531SENU">55-1-22.5</span></a><span xml:space="preserve" class="s2072531SENU">. </span><span class="s2072531CL">Discretion of trustee of hybrid purpose trust.</span></p><p dir="ltr" class="s2072531Normal-000000"><span class="s2072531DefaultParagraphFont">Except as otherwise provided in the governing instrument, a trustee of a hybrid purpose trust is vested with full discretion in administering the trust and considering the best interests of the beneficiaries and the purposes of the trust.</span></p><p dir="ltr" class="s2072531Normal"><span xml:space="preserve" class="s2072531000001"> </span></p><p dir="ltr" class="s2072531Normal"><span class="s2072531SCL">Source:</span><span xml:space="preserve" class="s2072531SCL-000002"> SL 2018, ch 275, § 19.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072532Normal { 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.s2072532SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072532CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072532Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072532DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072532000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072532SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072532SCL-000002 { 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="s2072532Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-22.6"><span class="s2072532SENU">55-1-22.6</span></a><span xml:space="preserve" class="s2072532SENU">. </span><span class="s2072532CL">Enforcer of hybrid purpose trust.</span></p><p dir="ltr" class="s2072532Normal-000000"><span xml:space="preserve" class="s2072532DefaultParagraphFont">In addition to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-21.4"><span class="s2072532DefaultParagraphFont">55-1-21.4</span></a><span class="s2072532DefaultParagraphFont">, an enforcer may also not be a beneficiary of a hybrid purpose trust.</span></p><p dir="ltr" class="s2072532Normal"><span xml:space="preserve" class="s2072532000001"> </span></p><p dir="ltr" class="s2072532Normal"><span class="s2072532SCL">Source:</span><span xml:space="preserve" class="s2072532SCL-000002"> SL 2018, ch 275, § 20.</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1 - CLASSIFICATION AND CREATION OF TRUSTS55-1-23 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 55-1-23 "> <META NAME="Description" Content="South Dakota Codified Laws 55-1-23"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 55-1-23. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2011, ch 212, &#167;&nbsp;41.<p> </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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072534Normal { 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.s2072534SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072534CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072534Normal-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.s2072534DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072534Normal-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.s2072534000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072534SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072534SCL-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="s2072534Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-24"><span class="s2072534SENU">55-1-24</span></a><span xml:space="preserve" class="s2072534SENU">. </span><span xml:space="preserve" class="s2072534CL">Definitions applicable to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-24"><span class="s2072534CL">55-1-24</span></a><span xml:space="preserve" class="s2072534CL"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-45"><span class="s2072534CL">55-1-45</span></a><span class="s2072534CL">.</span></p><p dir="ltr" class="s2072534Normal-000000"><span xml:space="preserve" class="s2072534DefaultParagraphFont">Terms used in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-24"><span class="s2072534DefaultParagraphFont">55-1-24</span></a><span xml:space="preserve" class="s2072534DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-45"><span class="s2072534DefaultParagraphFont">55-1-45</span></a><span class="s2072534DefaultParagraphFont">, inclusive, mean:</span></p><p dir="ltr" class="s2072534Normal-000001"><span class="s2072534DefaultParagraphFont">(1)    "Beneficial interest," is limited to mean a distribution interest or a remainder interest. A beneficial interest specifically excludes a power of appointment or a power reserved by the settlor;</span></p><p dir="ltr" class="s2072534Normal-000001"><span class="s2072534DefaultParagraphFont">(2)    "Distribution beneficiary," a beneficiary who is an eligible distributee or permissible distributee of trust income or principal;</span></p><p dir="ltr" class="s2072534Normal-000001"><span class="s2072534DefaultParagraphFont">(3)    "Distribution interest," a distribution interest held by a distribution beneficiary. A distribution interest may be a current distribution interest or a future distribution interest. A distribution interest may be classified as a mandatory interest, a support interest, or a discretionary interest;</span></p><p dir="ltr" class="s2072534Normal-000001"><span xml:space="preserve" class="s2072534DefaultParagraphFont">(4)    "Power of appointment," as defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-12"><span class="s2072534DefaultParagraphFont">55-1-12</span></a><span class="s2072534DefaultParagraphFont">;</span></p><p dir="ltr" class="s2072534Normal-000001"><span class="s2072534DefaultParagraphFont">(5)    "Reach," with respect to a distribution interest or power, to subject the distribution interest or power to a judgment, decree, garnishment, attachment, execution, levy, creditor's bill or other legal, equitable, or administrative process, relief, or control of any court, tribunal, agency, or other entity as provided by law;</span></p><p dir="ltr" class="s2072534Normal-000001"><span class="s2072534DefaultParagraphFont">(6)    "Remainder interest," an interest where a trust beneficiary receives the property outright at some time during the future;</span></p><p dir="ltr" class="s2072534Normal-000001"><span class="s2072534DefaultParagraphFont">(7)    "Reserved power," a power held by the settlor.</span></p><p dir="ltr" class="s2072534Normal"><span xml:space="preserve" class="s2072534000002"> </span></p><p dir="ltr" class="s2072534Normal"><span class="s2072534SCL">Source:</span><span xml:space="preserve" class="s2072534SCL-000003"> SL 2007, ch 280, § 1; SL 2008, ch 257, § 2; SL 2009, ch 252, § 2; SL 2011, ch 212, § 30; SL 2015, ch 240, § 10; SL 2016, ch 231, § 10.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072535Normal { 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.s2072535SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072535CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072535Normal-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.s2072535DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072535Normal-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.s2072535000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072535SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072535SCL-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="s2072535Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-24.1"><span class="s2072535SENU">55-1-24.1</span></a><span xml:space="preserve" class="s2072535SENU">. </span><span class="s2072535CL">Improper motive.</span></p><p dir="ltr" class="s2072535Normal-000000"><span xml:space="preserve" class="s2072535DefaultParagraphFont">For purposes of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-24"><span class="s2072535DefaultParagraphFont">55-1-24</span></a><span xml:space="preserve" class="s2072535DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-45"><span class="s2072535DefaultParagraphFont">55-1-45</span></a><span class="s2072535DefaultParagraphFont">, inclusive, improper motive is demonstrated by action such as the following:</span></p><p dir="ltr" class="s2072535Normal-000001"><span class="s2072535DefaultParagraphFont">(1)    A trustee refusing to make or limiting distributions to beneficiaries other than the trustee due to the trustee's self interest when the trustee also holds a beneficial interest subject to a discretionary interest; or</span></p><p dir="ltr" class="s2072535Normal-000001"><span class="s2072535DefaultParagraphFont">(2)    A trustee making a distribution in excess of an ascertainable standard to himself or herself as beneficiary when the trustee is restricted by an ascertainable standard in the trust.</span></p><p dir="ltr" class="s2072535Normal"><span xml:space="preserve" class="s2072535000002"> </span></p><p dir="ltr" class="s2072535Normal"><span class="s2072535SCL">Source:</span><span xml:space="preserve" class="s2072535SCL-000003"> SL 2008, ch 257, § 3; SL 2011, ch 212, § 31.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072536Normal { 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.s2072536SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072536CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072536Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072536DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072536000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072536SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072536SCL-000002 { 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="s2072536Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-24.2"><span class="s2072536SENU">55-1-24.2</span></a><span xml:space="preserve" class="s2072536SENU">. </span><span class="s2072536CL">Withdrawal power.</span></p><p dir="ltr" class="s2072536Normal-000000"><span class="s2072536DefaultParagraphFont">A withdrawal power allows a person a right to withdraw all or some part of the trust property, whether from income or principal. The holder of a withdrawal power is not deemed to be the settlor of the trust by failing to exercise a withdrawal power or letting a withdrawal power lapse.</span></p><p dir="ltr" class="s2072536Normal"><span xml:space="preserve" class="s2072536000001"> </span></p><p dir="ltr" class="s2072536Normal"><span class="s2072536SCL">Source:</span><span xml:space="preserve" class="s2072536SCL-000002"> SL 2011, ch 212, § 32; SL 2016, ch 231, § 11.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072537Normal { 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.s2072537SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072537CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072537Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072537DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072537000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072537SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072537SCL-000002 { 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="s2072537Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-25"><span class="s2072537SENU">55-1-25</span></a><span xml:space="preserve" class="s2072537SENU">. </span><span class="s2072537CL">Distinction between discretionary trust and support trust--Creditor rights--Judicial review.</span></p><p dir="ltr" class="s2072537Normal-000000"><span xml:space="preserve" class="s2072537DefaultParagraphFont">The common law distinction between a discretionary trust and a support trust and the dual judicial review standards related to this distinction shall be maintained. In the area of creditor rights, the Restatement of Trusts (Third) and the Uniform Trust Code create many new positions of law as well as adopts many minority positions of law. The provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-24"><span class="s2072537DefaultParagraphFont">55-1-24</span></a><span xml:space="preserve" class="s2072537DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-43"><span class="s2072537DefaultParagraphFont">55-1-43</span></a><span xml:space="preserve" class="s2072537DefaultParagraphFont">, inclusive, affirmatively reject many of these positions. Therefore, the Legislature does not intend the courts to consult the Restatement (Third) of the Law of Trusts § 50, § 56, § 58, § 59, or § 60 as approved by the American Law Institute or Uniform Trust Code Article 5 and Section 814(a) as approved by the National Conference of Commissioners on Uniform State Laws in 2004 with respect to subject matters addressed by the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-24"><span class="s2072537DefaultParagraphFont">55-1-24</span></a><span xml:space="preserve" class="s2072537DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-43"><span class="s2072537DefaultParagraphFont">55-1-43</span></a><span class="s2072537DefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s2072537Normal"><span xml:space="preserve" class="s2072537000001"> </span></p><p dir="ltr" class="s2072537Normal"><span class="s2072537SCL">Source:</span><span xml:space="preserve" class="s2072537SCL-000002"> SL 2007, ch 280, § 2; SL 2015, ch 240, § 11.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072538Normal { 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.s2072538SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072538CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072538Normal-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.s2072538DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072538Normal-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; } p.s2072538Normal-000002 { text-indent: 0.25in; 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.s2072538000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072538SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072538SCL-000004 { 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="s2072538Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-26"><span class="s2072538SENU">55-1-26</span></a><span xml:space="preserve" class="s2072538SENU">. </span><span class="s2072538CL">Judicial foreclosure of beneficial interests, powers of appointment, and reserved powers prohibited--Creditors may not reach powers of appointment or remainder interests.</span></p><p dir="ltr" class="s2072538Normal-000000"><span class="s2072538DefaultParagraphFont">Regardless of whether or not a trust contains a spendthrift provision:</span></p><p dir="ltr" class="s2072538Normal-000001"><span class="s2072538DefaultParagraphFont">(1)    No beneficial interest, power of appointment, or reserved power in a trust may be judicially foreclosed;</span></p><p dir="ltr" class="s2072538Normal-000001"><span class="s2072538DefaultParagraphFont">(2)    No creditor may reach a power of appointment or a remainder interest at the trust level. The creditor shall wait until the funds are distributed before the creditor may reach the funds; and</span></p><p dir="ltr" class="s2072538Normal-000001"><span class="s2072538DefaultParagraphFont">(3)    No power of appointment is property or an interest in property.</span></p><p dir="ltr" class="s2072538Normal-000002"><span class="s2072538DefaultParagraphFont">For purposes of this section, power of appointment is held by a person to whom a power has been given, not the settlor.</span></p><p dir="ltr" class="s2072538Normal"><span xml:space="preserve" class="s2072538000003"> </span></p><p dir="ltr" class="s2072538Normal"><span class="s2072538SCL">Source:</span><span xml:space="preserve" class="s2072538SCL-000004"> SL 2007, ch 280, § 3; SL 2009, ch 252, § 3; SL 2016, ch 231, § 12.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072539Normal { 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.s2072539SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072539CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072539Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072539DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072539000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072539SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072539SCL-000002 { 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="s2072539Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-27"><span class="s2072539SENU">55-1-27</span></a><span xml:space="preserve" class="s2072539SENU">. </span><span class="s2072539CL">Certain remainder interests not property interests.</span></p><p dir="ltr" class="s2072539Normal-000000"><span xml:space="preserve" class="s2072539DefaultParagraphFont">Although a remainder interest may be an enforceable right, where it is not absolutely certain based on the language of the trust that the remainder interest will be distributed within one year, it may not be classified as a property interest. This section does not affect eligibility for any public assistance program administered by the Department of Social Services pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=28-1-1"><span class="s2072539DefaultParagraphFont">28-1-1</span></a><span class="s2072539DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072539Normal"><span xml:space="preserve" class="s2072539000001"> </span></p><p dir="ltr" class="s2072539Normal"><span class="s2072539SCL">Source:</span><span xml:space="preserve" class="s2072539SCL-000002"> SL 2007, ch 280, § 4.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072540Normal { 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.s2072540SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072540CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072540Normal-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.s2072540DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072540Normal-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; } p.s2072540Normal-000002 { text-indent: 0.25in; 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.s2072540000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072540SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072540SCL-000004 { 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="s2072540Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-28"><span class="s2072540SENU">55-1-28</span></a><span xml:space="preserve" class="s2072540SENU">. </span><span class="s2072540CL">Interest of beneficiary or others not reachable by creditors.</span></p><p dir="ltr" class="s2072540Normal-000000"><span class="s2072540DefaultParagraphFont">No creditor may reach an interest of a beneficiary or of any other person on the grounds that the beneficiary or other person holds, either alone or in conjunction with another person, either or both of the following:</span></p><p dir="ltr" class="s2072540Normal-000001"><span class="s2072540DefaultParagraphFont">(1)    An unconditional or conditional power to remove a trustee; or</span></p><p dir="ltr" class="s2072540Normal-000001"><span class="s2072540DefaultParagraphFont">(2)    An unconditional or conditional power to replace a trustee.</span></p><p dir="ltr" class="s2072540Normal-000002"><span class="s2072540DefaultParagraphFont">The powers to remove or replace a trustee are personal to the power holder. No court may order, direct, or otherwise compel a power holder to directly or indirectly exercise the power to remove or replace a trustee for the purpose of directly or indirectly satisfying, either in whole or in part, any claim or judgment against the power holder or a beneficiary.</span></p><p dir="ltr" class="s2072540Normal-000002"><span class="s2072540DefaultParagraphFont">The powers to remove or replace a trustee, whether exercisable alone or in conjunction with another person, are not a property interest.</span></p><p dir="ltr" class="s2072540Normal-000002"><span class="s2072540DefaultParagraphFont">No creditor may reach an interest of a beneficiary on the grounds that the beneficiary is also a trustee or a co-trustee and no court may foreclose against such an interest. No court may order, direct, or otherwise compel a distribution because the beneficiary is then serving as a trustee or co-trustee.</span></p><p dir="ltr" class="s2072540Normal"><span xml:space="preserve" class="s2072540000003"> </span></p><p dir="ltr" class="s2072540Normal"><span class="s2072540SCL">Source:</span><span xml:space="preserve" class="s2072540SCL-000004"> SL 2007, ch 280, § 5; SL 2009, ch 252, § 4; SL 2013, ch 239, § 21.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072541Normal { 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.s2072541SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072541CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072541Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072541DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072541000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072541SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072541SCL-000002 { 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="s2072541Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-29"><span class="s2072541SENU">55-1-29</span></a><span xml:space="preserve" class="s2072541SENU">. </span><span class="s2072541CL">Trust property not subject to personal obligations of trustee.</span></p><p dir="ltr" class="s2072541Normal-000000"><span class="s2072541DefaultParagraphFont">Trust property is not subject to the personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.</span></p><p dir="ltr" class="s2072541Normal"><span xml:space="preserve" class="s2072541000001"> </span></p><p dir="ltr" class="s2072541Normal"><span class="s2072541SCL">Source:</span><span xml:space="preserve" class="s2072541SCL-000002"> SL 2007, ch 280, § 6.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072542Normal { 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.s2072542SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072542CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072542Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072542DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072542000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072542SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072542SCL-000002 { 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="s2072542Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-30"><span class="s2072542SENU">55-1-30</span></a><span xml:space="preserve" class="s2072542SENU">. </span><span class="s2072542CL">Distribution and remainder interests not relevant to division of marital property.</span></p><p dir="ltr" class="s2072542Normal-000000"><span class="s2072542DefaultParagraphFont">Neither a distribution interest nor a remainder interest are relevant in the equitable division of marital property.</span></p><p dir="ltr" class="s2072542Normal"><span xml:space="preserve" class="s2072542000001"> </span></p><p dir="ltr" class="s2072542Normal"><span class="s2072542SCL">Source:</span><span xml:space="preserve" class="s2072542SCL-000002"> SL 2007, ch 280, § 7; SL 2008, ch 257, § 4.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072543Normal { 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.s2072543SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072543CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072543Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072543DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072543000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072543SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072543SCL-000002 { 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="s2072543Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-31"><span class="s2072543SENU">55-1-31</span></a><span xml:space="preserve" class="s2072543SENU">. </span><span class="s2072543CL">Resources of settlor's spouse to be considered in making distribution from support trust--Other beneficiary's resources need not be considered.</span></p><p dir="ltr" class="s2072543Normal-000000"><span class="s2072543DefaultParagraphFont">Unless otherwise provided in the trust, if the settlor's spouse is named as beneficiary, the settlor's spouse is still living, and the trust is classified as a support trust, then the trustee shall consider the resources of the settlor's spouse, including the settlor's obligation of support, prior to making a distribution. In all other cases, unless otherwise provided in the trust, the trustee need not consider the beneficiary's resources in determining whether a distribution should be made.</span></p><p dir="ltr" class="s2072543Normal"><span xml:space="preserve" class="s2072543000001"> </span></p><p dir="ltr" class="s2072543Normal"><span class="s2072543SCL">Source:</span><span xml:space="preserve" class="s2072543SCL-000002"> SL 2007, ch 280, § 8; SL 2009, ch 252, § 5; SL 2011, ch 212, § 33.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s4a755345c07b47c78dfb6182e4adb4d3Normal { 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.s4a755345c07b47c78dfb6182e4adb4d3SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4a755345c07b47c78dfb6182e4adb4d3CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s4a755345c07b47c78dfb6182e4adb4d3Statute { 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.s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; 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.s4a755345c07b47c78dfb6182e4adb4d3000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4a755345c07b47c78dfb6182e4adb4d3NoIndent { text-indent: 0.00in; 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.s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4a755345c07b47c78dfb6182e4adb4d3SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 55-1-32 - Alter ego--Pierce the veil, dominion and control claims."><meta property="og:description" content="SDLRC Codified Law 55-1-32 - Alter ego--Pierce the veil, dominion and control claims."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=55-1-32"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3Normal"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-32" rel="noopener"><span class="s4a755345c07b47c78dfb6182e4adb4d3SENU">55-1-32</span></a><span xml:space="preserve" class="s4a755345c07b47c78dfb6182e4adb4d3SENU">. </span><span class="s4a755345c07b47c78dfb6182e4adb4d3CL">Alter ego--Pierce the veil, dominion and control claims.</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3Statute"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">Pierce the veil and dominion and control claims by a party are, in essence, a variation of the alter ego common law doctrine. This section covers all of these types of claims.</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3Statute"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">In the event that a party brings an action against a trustee, beneficiary, trust advisor, or trust protector under an alter ego claim, none of the following factors, alone or in combination, may be considered as resulting in the alter ego theory being applied to a trustee or the person who is claimed to be the alter ego:</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span xml:space="preserve" class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(1)    The settlor or a beneficiary serving as a trustee or a co-trustee as described in § </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1-28" rel="noopener"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">55-1-28</span></a><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(2)    The settlor or a beneficiary holds an unrestricted power to remove or replace a trustee;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(3)    The settlor or a beneficiary is a trust administrator, a general partner of a partnership, a manager of a limited liability company, an officer of a corporation, or any other managerial function of any other type of entity, and part or all of the trust property consists of an interest in the entity;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(4)    A person related by blood or adoption to the settlor or a beneficiary is appointed as trustee;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(5)    The settlor's or a beneficiary's agent, accountant, attorney, financial advisor, or friend is appointed as trustee;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(6)    A business associate is appointed as a trustee;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(7)    A beneficiary holds any power of appointment over any or all of the trust property;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(8)    The settlor holds a power to substitute property of equivalent value;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(9)    The trustee may loan trust property to the settlor for less than a full and adequate rate of interest or without adequate security;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(10)    The distribution language provides any discretion;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(11)    The trust has only one beneficiary eligible for current distributions;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span xml:space="preserve" class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(12)    A beneficiary serving as an investment trust advisor, as the role is defined in § </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1B-1" rel="noopener"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">55-1B-1</span></a><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(13)    Isolated occurrences where the settlor has signed checks, made disbursements, or executed other documents related to the trust as a trustee, when in fact the settlor was not a trustee;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(14)    Making any requests for distributions on behalf of beneficiaries;</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(15)    Making any requests to the trustee to hold, purchase, or sell any trust property; or</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3StatuteNumber1"><span class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont">(16)    A beneficiary serving as a trust protector or a trust advisor.</span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3Normal"><span xml:space="preserve" class="s4a755345c07b47c78dfb6182e4adb4d3000000"> </span></p><p dir="ltr" class="s4a755345c07b47c78dfb6182e4adb4d3NoIndent"><span xml:space="preserve" class="s4a755345c07b47c78dfb6182e4adb4d3DefaultParagraphFont-000001">Source: </span><span class="s4a755345c07b47c78dfb6182e4adb4d3SCL">SL 2007, ch 280, § 9; SL 2009, ch 252, § 6; SL 2012, ch 233, § 20; SL 2023, ch 161, § 3.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2f1ca8c2dc4944568b561f542e149782Normal { 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.s2f1ca8c2dc4944568b561f542e149782SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2f1ca8c2dc4944568b561f542e149782DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2f1ca8c2dc4944568b561f542e149782000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2f1ca8c2dc4944568b561f542e149782DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2f1ca8c2dc4944568b561f542e149782SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 55-1-33 - Repealed."><meta property="og:description" content="SDLRC Codified Law 55-1-33 - Repealed."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=55-1-33"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s2f1ca8c2dc4944568b561f542e149782Normal"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-33" rel="noopener"><span class="s2f1ca8c2dc4944568b561f542e149782SENU">55-1-33</span></a><span xml:space="preserve" class="s2f1ca8c2dc4944568b561f542e149782SENU">. </span><span class="s2f1ca8c2dc4944568b561f542e149782DefaultParagraphFont">Repealed.</span></p><p dir="ltr" class="s2f1ca8c2dc4944568b561f542e149782Normal"><span xml:space="preserve" class="s2f1ca8c2dc4944568b561f542e149782000000"> </span></p><p dir="ltr" class="s2f1ca8c2dc4944568b561f542e149782Normal"><span xml:space="preserve" class="s2f1ca8c2dc4944568b561f542e149782DefaultParagraphFont-000001">Source: </span><span class="s2f1ca8c2dc4944568b561f542e149782SCL">SL 2007, ch 280, § 10; SL 2023, ch 161, § 4.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072546Normal { 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.s2072546SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072546CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072546Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072546DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072546000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072546SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072546SCL-000002 { 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="s2072546Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-34"><span class="s2072546SENU">55-1-34</span></a><span xml:space="preserve" class="s2072546SENU">. </span><span class="s2072546CL">Provision that beneficial interest in trust income or principal may not be transferred before payment to beneficiary permissible.</span></p><p dir="ltr" class="s2072546Normal-000000"><span class="s2072546DefaultParagraphFont">A settlor may provide in the terms of the trust that a beneficiary's beneficial interest in a trust's income, principal, or in both, may not be voluntarily or involuntarily transferred before payment or delivery of the beneficial interest to the beneficiary by the trustee.</span></p><p dir="ltr" class="s2072546Normal"><span xml:space="preserve" class="s2072546000001"> </span></p><p dir="ltr" class="s2072546Normal"><span class="s2072546SCL">Source:</span><span xml:space="preserve" class="s2072546SCL-000002"> SL 2007, ch 280, § 11.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072547Normal { 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.s2072547SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072547CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072547Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072547DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072547000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072547SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072547SCL-000002 { 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="s2072547Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-35"><span class="s2072547SENU">55-1-35</span></a><span xml:space="preserve" class="s2072547SENU">. </span><span class="s2072547CL">Trust declaration that beneficiary's interest subject to spendthrift trust--Payment of beneficiary expenses.</span></p><p dir="ltr" class="s2072547Normal-000000"><span class="s2072547DefaultParagraphFont">A declaration in a trust that the interest of a beneficiary shall be held subject to a spendthrift trust is sufficient to restrain voluntary or involuntary alienation of a beneficial interest by a beneficiary to the maximum extent provided by law. Regardless of whether a beneficiary has any outstanding creditor, a trustee of a spendthrift trust may directly pay any expense on behalf of such beneficiary and may exhaust the income and principal of the trust for the benefit of such beneficiary. No trustee is liable to any creditor for paying the expenses of a beneficiary of a spendthrift trust.</span></p><p dir="ltr" class="s2072547Normal"><span xml:space="preserve" class="s2072547000001"> </span></p><p dir="ltr" class="s2072547Normal"><span class="s2072547SCL">Source:</span><span xml:space="preserve" class="s2072547SCL-000002"> SL 2007, ch 280, § 12; SL 2011, ch 212, § 34.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2079870Normal { 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.s2079870SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079870CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2079870Statute { 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.s2079870DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2079870StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } a.s2079870000000 { text-decoration: none; } span.s2079870000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079870DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079870SCL { 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="s2079870Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-36"><span class="s2079870SENU">55-1-36</span></a><span xml:space="preserve" class="s2079870SENU">. </span><span class="s2079870CL">Satisfaction of claims of settlor's creditors from trust estate if settlor is beneficiary.</span></p><p dir="ltr" class="s2079870Statute"><span xml:space="preserve" class="s2079870DefaultParagraphFont">If a settlor is also a beneficiary of the trust, and the transfer is a qualified transfer pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-16"><span class="s2079870DefaultParagraphFont">55-16</span></a><span xml:space="preserve" class="s2079870DefaultParagraphFont">, the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-24"><span class="s2079870DefaultParagraphFont">55-1-24</span></a><span xml:space="preserve" class="s2079870DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-43"><span class="s2079870DefaultParagraphFont">55-1-43</span></a><span xml:space="preserve" class="s2079870DefaultParagraphFont">, inclusive, also apply. Conversely, if the settlor is a beneficiary of the trust and the transfer is not a qualified transfer pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-16"><span class="s2079870DefaultParagraphFont">55-16</span></a><span class="s2079870DefaultParagraphFont">, a provision restraining the voluntary or involuntary transfer of the settlor's beneficial interest does not prevent the settlor's creditors from satisfying claims from the settlor's interest in the trust estate. However, a settlor's creditors may not satisfy their respective claims from an irrevocable trust if:</span></p><p dir="ltr" class="s2079870StatuteNumber1"><a id="_pagenumber3" class="s2079870000000"></a><span class="s2079870DefaultParagraphFont">(1)    The settlor has retained a beneficial interest that is contingent upon surviving the settlor's spouse such as an interest in an inter vivos marital deduction trust in which the interest of the settlor's spouse is treated as qualified terminable interest property under § 2523(f) of the Internal Revenue Code of 1986 (26 U.S.C. § 2523(f)), as amended, an interest in an inter vivos marital deduction trust that is treated as a general power of appointment trust for which a marital deduction would be allowed under § 2523(a) and (e) of the Internal Revenue Code of 1986 (26 U.S.C. § 2523(a) and (e)), as amended, and an interest in an inter vivos trust commonly known as a credit shelter trust that used all or a portion of the settlor's unified credit under § 2505 of the Internal Revenue Code (26 U.S.C. § 2505), as amended;</span></p><p dir="ltr" class="s2079870StatuteNumber1"><span class="s2079870DefaultParagraphFont">(2)    The settlor may be named, by someone other than the settlor, as an additional beneficiary or from a class of persons that includes the settlor; or</span></p><p dir="ltr" class="s2079870StatuteNumber1"><span class="s2079870DefaultParagraphFont">(3)    The settlor is a permissible object of the exercise of a power of appointment over trust property held by someone other than the settlor.</span></p><p dir="ltr" class="s2079870Normal"><span xml:space="preserve" class="s2079870000001"> </span></p><p dir="ltr" class="s2079870Normal"><span xml:space="preserve" class="s2079870DefaultParagraphFont-000002">Source: </span><span class="s2079870SCL">SL 2007, ch 280, § 13; SL 2011, ch 212, § 35; SL 2015, ch 240, § 12; SL 2020, ch 206, § 4.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072549Normal { 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.s2072549SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072549CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072549Normal-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.s2072549DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072549Normal-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.s2072549000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072549SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072549SCL-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="s2072549Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-36.1"><span class="s2072549SENU">55-1-36.1</span></a><span xml:space="preserve" class="s2072549SENU">. </span><span class="s2072549CL">Effect on creditor claims of trustee discretionary powers to pay taxes or make reimbursements for taxes.</span></p><p dir="ltr" class="s2072549Normal-000000"><span xml:space="preserve" class="s2072549DefaultParagraphFont">Regardless of whether a disposition is a qualified disposition pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-16"><span class="s2072549DefaultParagraphFont">55-16</span></a><span class="s2072549DefaultParagraphFont">, where a trustee is granted a discretionary power by the terms of the trust instrument, or any provision of law, to pay directly to any taxing authority, or to reimburse the person liable for, any tax imposed by a taxing authority on the person by reason of the person being treated as the owner of all or any portion of the trust property pursuant to §§ 671 to 678, inclusive, of the Internal Revenue Code of 1986, 26 U.S.C. §§ 671 to 678, inclusive, as of January 1, 2016, and the U.S. Treasury Regulations promulgated thereunder, as of January 1, 2016:</span></p><p dir="ltr" class="s2072549Normal-000001"><span class="s2072549DefaultParagraphFont">(1)    A creditor of the person shall not satisfy a claim from the property of the trust solely because of the existence or exercise of the discretionary power; and</span></p><p dir="ltr" class="s2072549Normal-000001"><span class="s2072549DefaultParagraphFont">(2)    The use of trust property to pay the tax shall not be deemed a distribution or transfer of trust property to the person for any purpose, and the amount paid from the trust to the taxing authority or to the person in reimbursement of the person's payment of the tax is not subject to the claims of a creditor of the person solely because of the existence or exercise of the discretionary power.</span></p><p dir="ltr" class="s2072549Normal"><span xml:space="preserve" class="s2072549000002"> </span></p><p dir="ltr" class="s2072549Normal"><span class="s2072549SCL">Source:</span><span xml:space="preserve" class="s2072549SCL-000003"> SL 2015, ch 240, § 13; SL 2016, ch 231, § 13.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s660f46f0eeaf4346a1358ba0d0b310f7Normal { 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.s660f46f0eeaf4346a1358ba0d0b310f7SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s660f46f0eeaf4346a1358ba0d0b310f7CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s660f46f0eeaf4346a1358ba0d0b310f7Statute { 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.s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s660f46f0eeaf4346a1358ba0d0b310f7000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s660f46f0eeaf4346a1358ba0d0b310f7NoIndent { text-indent: 0.00in; 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.s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s660f46f0eeaf4346a1358ba0d0b310f7SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 55-1-36.2 - Income tax reimbursement or payment--Excluded source--Effect--Liability--Fiduciary duty--Applicability."><meta property="og:description" content="SDLRC Codified Law 55-1-36.2 - Income tax reimbursement or payment--Excluded source--Effect--Liability--Fiduciary duty--Applicability."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/55-1-36.2"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s660f46f0eeaf4346a1358ba0d0b310f7Normal"><a href="https://sdlegislature.gov/Statutes?Statute=55-1-36.2" rel="noopener"><span class="s660f46f0eeaf4346a1358ba0d0b310f7SENU">55-1-36.2</span></a><span xml:space="preserve" class="s660f46f0eeaf4346a1358ba0d0b310f7SENU">. </span><span class="s660f46f0eeaf4346a1358ba0d0b310f7CL">Income tax reimbursement or payment--Excluded source--Effect--Liability--Fiduciary duty--Applicability.</span></p><p dir="ltr" class="s660f46f0eeaf4346a1358ba0d0b310f7Statute"><span class="s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont">Unless the terms of the governing instrument expressly provide that a trustor may not be reimbursed by a trust for the trustor's personal income tax liability, if the trustor is treated under 26 U.S.C. §§ 671 to 678, inclusive (January 1, 2026), as the owner of all or part of the trust, the trustee, other than a trustee who is the trustor or a person who is a related or subordinate party with respect to the trustor within the meaning of 26 U.S.C. § 672(c) (January 1, 2026), may, in the trustee's sole discretion, or at the direction or with the consent of a trust advisor or trust protector, who, in either case, is not the trustor or a person who is a related or subordinate party with respect to the trustor, pay directly to any taxing authority, or reimburse the person liable for, any tax imposed by a taxing authority on the person by reason of the person being treated as the owner of all or any portion of the trust property pursuant to 26 U.S.C. §§ 671 to 678, inclusive (January 1, 2026).</span></p><p dir="ltr" class="s660f46f0eeaf4346a1358ba0d0b310f7Statute"><span class="s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont">If there is a policy of insurance on the trustor's life held in the trust, the cash value of the policy, or the proceeds of any loan secured by an interest in the policy may not be used to reimburse the trustor or to pay an appropriate taxing authority on the trustor's behalf.</span></p><p dir="ltr" class="s660f46f0eeaf4346a1358ba0d0b310f7Statute"><span xml:space="preserve" class="s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont">The power to make payments to, or for the benefit of, the trustor under this section, or the trustee's, trust advisor's, or trust protector's decision to exercise or direct the exercise of the power in favor of the trustor, may not cause the trustor to be treated as a beneficiary of the trust for purposes of § </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1-36.1" rel="noopener"><span class="s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont">55-1-36.1</span></a><span xml:space="preserve" class="s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont"> or any other law of this state.</span></p><p dir="ltr" class="s660f46f0eeaf4346a1358ba0d0b310f7Statute"><span class="s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont">The provisions of this section do not apply if the application of this section would disqualify a trust for, or reduce the amount of, a marital or charitable deduction otherwise available to any person for state or federal income, gift, or estate tax purposes.</span></p><p dir="ltr" class="s660f46f0eeaf4346a1358ba0d0b310f7Statute"><span class="s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont">A trustee, trust advisor, or trust protector is not liable to any person for the exercise of, or the direction or consent to exercise, the power to reimburse or not reimburse a trustor for tax payable by the trustor pursuant to this section. The exercise of, or the direction or consent to exercise, the power to reimburse or not reimburse a trustor for tax payable by the trustor pursuant to this section is not a breach of fiduciary duty to any person.</span></p><p dir="ltr" class="s660f46f0eeaf4346a1358ba0d0b310f7Statute"><span class="s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont">This section applies only to trusts created on or after July 1, 2026, and to any trust for which the principal place of administration is moved to this state on or after July 1, 2026.</span></p><p dir="ltr" class="s660f46f0eeaf4346a1358ba0d0b310f7Statute"><span class="s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont">For purposes of this section, the term "trustor" includes a trustor, settlor, trustmaker, or any person treated under 26 U.S.C. §§ 671 to 678, inclusive (January 1, 2026), as the owner of all or part of the trust.</span></p><p dir="ltr" class="s660f46f0eeaf4346a1358ba0d0b310f7Normal"><span xml:space="preserve" class="s660f46f0eeaf4346a1358ba0d0b310f7000000"> </span></p><p dir="ltr" class="s660f46f0eeaf4346a1358ba0d0b310f7NoIndent"><span xml:space="preserve" class="s660f46f0eeaf4346a1358ba0d0b310f7DefaultParagraphFont-000001">Source: </span><span class="s660f46f0eeaf4346a1358ba0d0b310f7SCL">SL 2026, ch 198, § 1.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072550Normal { 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.s2072550SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072550CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072550Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072550DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072550000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072550SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072550SCL-000002 { 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="s2072550Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-37"><span class="s2072550SENU">55-1-37</span></a><span xml:space="preserve" class="s2072550SENU">. </span><span class="s2072550CL">Application of spendthrift provision.</span></p><p dir="ltr" class="s2072550Normal-000000"><span class="s2072550DefaultParagraphFont">A spendthrift provision applies to both distribution interests and remainder interests. A spendthrift provision is a material provision of a trust.</span></p><p dir="ltr" class="s2072550Normal"><span xml:space="preserve" class="s2072550000001"> </span></p><p dir="ltr" class="s2072550Normal"><span class="s2072550SCL">Source:</span><span xml:space="preserve" class="s2072550SCL-000002"> SL 2007, ch 280, § 14; SL 2008, ch 257, § 5.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072551Normal { 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.s2072551SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072551CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072551Normal-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.s2072551DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072551Normal-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; } p.s2072551Normal-000002 { text-indent: 0.25in; 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.s2072551000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072551SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072551SCL-000004 { 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="s2072551Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-38"><span class="s2072551SENU">55-1-38</span></a><span xml:space="preserve" class="s2072551SENU">. </span><span class="s2072551CL">Classification of distribution interest.</span></p><p dir="ltr" class="s2072551Normal-000000"><span class="s2072551DefaultParagraphFont">A distribution interest can be classified in three ways:</span></p><p dir="ltr" class="s2072551Normal-000001"><span class="s2072551DefaultParagraphFont">(1)    As a mandatory interest, which is a distribution interest, in which the timing of any distribution must occur within one year from the date the right to the distribution arises, and the trustee has no discretion in determining whether a distribution shall be made or the amount of such distribution;</span></p><p dir="ltr" class="s2072551Normal-000001"><span class="s2072551DefaultParagraphFont">(2)    As a support interest, which is not a mandatory interest but still contains mandatory language such as "shall make distributions" and is coupled with a standard capable of judicial interpretation; or</span></p><p dir="ltr" class="s2072551Normal-000001"><span class="s2072551DefaultParagraphFont">(3)    As a discretionary interest, which is any interest where a trustee has any discretion to make or withhold a distribution.</span></p><p dir="ltr" class="s2072551Normal-000002"><span class="s2072551DefaultParagraphFont">A discretionary interest may be evidenced by permissive language such as "may make distributions" or it may be evidenced by mandatory distribution language that is negated by the discretionary language of the trust, such as "the trustee shall make distributions in the trustee's sole and absolute discretion." An interest that includes mandatory distribution language such as "shall" but is subsequently qualified by discretionary distribution language shall be classified as a discretionary interest and not as a support or a mandatory interest. A discretionary interest is any interest that is not a mandatory or a support interest.</span></p><p dir="ltr" class="s2072551Normal"><span xml:space="preserve" class="s2072551000003"> </span></p><p dir="ltr" class="s2072551Normal"><span class="s2072551SCL">Source:</span><span xml:space="preserve" class="s2072551SCL-000004"> SL 2007, ch 280, § 15; SL 2008, ch 257, § 6; SL 2009, ch 252, § 7.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072552Normal { 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.s2072552SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072552CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072552Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072552DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072552000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072552SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072552SCL-000002 { 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="s2072552Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-38.1"><span class="s2072552SENU">55-1-38.1</span></a><span xml:space="preserve" class="s2072552SENU">. </span><span class="s2072552CL">Classification of interest as support interest.</span></p><p dir="ltr" class="s2072552Normal-000000"><span xml:space="preserve" class="s2072552DefaultParagraphFont">If a trust instrument containing the distribution language specifically provides that the trustee exercise discretion in a reasonable manner with regard to a discretionary interest, then notwithstanding any other provision of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-38"><span class="s2072552DefaultParagraphFont">55-1-38</span></a><span xml:space="preserve" class="s2072552DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-43"><span class="s2072552DefaultParagraphFont">55-1-43</span></a><span xml:space="preserve" class="s2072552DefaultParagraphFont">, inclusive, the distribution interest shall be classified as a support interest. A beneficiary's right to a distribution as well as a creditor's right regarding a beneficiary's support interest is governed by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-42"><span class="s2072552DefaultParagraphFont">55-1-42</span></a><span class="s2072552DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072552Normal"><span xml:space="preserve" class="s2072552000001"> </span></p><p dir="ltr" class="s2072552Normal"><span class="s2072552SCL">Source:</span><span xml:space="preserve" class="s2072552SCL-000002"> SL 2009, ch 252, § 8.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072553Normal { 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.s2072553SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072553CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072553Normal-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.s2072553DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072553Normal-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.s2072553000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072553SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072553SCL-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="s2072553Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-39"><span class="s2072553SENU">55-1-39</span></a><span xml:space="preserve" class="s2072553SENU">. </span><span class="s2072553CL">Bifurcation of trust.</span></p><p dir="ltr" class="s2072553Normal-000000"><span class="s2072553DefaultParagraphFont">To the extent a trust contains any combination of a mandatory provision, a support provision, the trust shall be bifurcated as follows:</span></p><p dir="ltr" class="s2072553Normal-000001"><span class="s2072553DefaultParagraphFont">(1)    The trust shall be a mandatory interest only to the extent of the mandatory language;</span></p><p dir="ltr" class="s2072553Normal-000001"><span class="s2072553DefaultParagraphFont">(2)    The trust shall be a support interest only to the extent of such support language;</span></p><p dir="ltr" class="s2072553Normal-000001"><span class="s2072553DefaultParagraphFont">(3)    The remaining trust property shall be held as a discretionary interest;</span></p><p dir="ltr" class="s2072553Normal-000001"><span class="s2072553DefaultParagraphFont">(4)    A support interest that includes mandatory language such as "shall" but is subsequently qualified by discretionary language, shall be classified as a discretionary interest and not as a support interest.</span></p><p dir="ltr" class="s2072553Normal"><span xml:space="preserve" class="s2072553000002"> </span></p><p dir="ltr" class="s2072553Normal"><span class="s2072553SCL">Source:</span><span xml:space="preserve" class="s2072553SCL-000003"> SL 2007, ch 280, § 16.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072554Normal { 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.s2072554SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072554CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072554Normal-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.s2072554DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072554Normal-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; } p.s2072554Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; 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.s2072554000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072554SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072554SCL-000004 { 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="s2072554Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-40"><span class="s2072554SENU">55-1-40</span></a><span xml:space="preserve" class="s2072554SENU">. </span><span class="s2072554CL">Language resulting in classification of distribution interest.</span></p><p dir="ltr" class="s2072554Normal-000000"><span class="s2072554DefaultParagraphFont">Although not the exclusive means to create a distribution interest, absent clear and convincing evidence to the contrary, the following language by itself results in the following classification of distribution interest:</span></p><p dir="ltr" class="s2072554Normal-000001"><span class="s2072554DefaultParagraphFont">(1)    Mandatory interest:</span></p><p dir="ltr" class="s2072554Normal-000002"><span class="s2072554DefaultParagraphFont">(a)    "All income shall be distributed to (named beneficiary)"; or</span></p><p dir="ltr" class="s2072554Normal-000002"><span class="s2072554DefaultParagraphFont">(b)    "One hundred thousand dollars a year shall be distributed to (named beneficiary)";</span></p><p dir="ltr" class="s2072554Normal-000001"><span class="s2072554DefaultParagraphFont">(2)    Support interest:</span></p><p dir="ltr" class="s2072554Normal-000002"><span class="s2072554DefaultParagraphFont">(a)    "The trustee shall make distributions for health, education, maintenance, and support";</span></p><p dir="ltr" class="s2072554Normal-000001"><span class="s2072554DefaultParagraphFont">(3)    Discretionary interest:</span></p><p dir="ltr" class="s2072554Normal-000002"><span class="s2072554DefaultParagraphFont">(a)    "The trustee, may, in the trustee's sole and absolute discretion make distributions for health, education, maintenance, and support";</span></p><p dir="ltr" class="s2072554Normal-000002"><span class="s2072554DefaultParagraphFont">(b)    "The trustee, in the trustee's sole and absolute discretion, shall make distributions for health, education, maintenance, and support";</span></p><p dir="ltr" class="s2072554Normal-000002"><span class="s2072554DefaultParagraphFont">(c)    "The trustee may make distributions for health, education, maintenance, and support";</span></p><p dir="ltr" class="s2072554Normal-000002"><span class="s2072554DefaultParagraphFont">(d)    "The trustee shall make distributions for health, education, maintenance, and support. The trustees may exclude any of the beneficiaries or may make unequal distributions among them";</span></p><p dir="ltr" class="s2072554Normal-000002"><span class="s2072554DefaultParagraphFont">(e)    "The trustee may make distributions for health, education, maintenance, support, comfort, and general welfare.</span></p><p dir="ltr" class="s2072554Normal"><span xml:space="preserve" class="s2072554000003"> </span></p><p dir="ltr" class="s2072554Normal"><span class="s2072554SCL">Source:</span><span xml:space="preserve" class="s2072554SCL-000004"> SL 2007, ch 280, § 17; SL 2008, ch 257, § 7.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072555Normal { 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.s2072555SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072555CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072555Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072555DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072555000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072555SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072555SCL-000002 { 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="s2072555Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-41"><span class="s2072555SENU">55-1-41</span></a><span xml:space="preserve" class="s2072555SENU">. </span><span class="s2072555CL">Effect of spendthrift provision.</span></p><p dir="ltr" class="s2072555Normal-000000"><span class="s2072555DefaultParagraphFont">If the trust contains a spendthrift provision, no creditor may reach present or future mandatory distributions from the trust at the trust level. Moreover, no court may order a trustee to distribute past due mandatory distributions directly to a creditor.</span></p><p dir="ltr" class="s2072555Normal"><span xml:space="preserve" class="s2072555000001"> </span></p><p dir="ltr" class="s2072555Normal"><span class="s2072555SCL">Source:</span><span xml:space="preserve" class="s2072555SCL-000002"> SL 2007, ch 280, § 18; SL 2009, ch 252, § 9.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072556Normal { 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.s2072556SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072556CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072556Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072556DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072556Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072556000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072556SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072556SCL-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="s2072556Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-42"><span class="s2072556SENU">55-1-42</span></a><span xml:space="preserve" class="s2072556SENU">. </span><span class="s2072556CL">Mandatory or support interests.</span></p><p dir="ltr" class="s2072556Normal-000000"><span class="s2072556DefaultParagraphFont">A beneficiary of a mandatory or a support interest has an enforceable right to a distribution pursuant to a court's review. A trustee's distribution decision may be reviewed for unreasonableness, dishonesty, improper motivation, or failure, if under a duty to do so, to act. This does not, however, raise the beneficiary's support interest to the level of a property interest.</span></p><p dir="ltr" class="s2072556Normal-000001"><span class="s2072556DefaultParagraphFont">If the trust contains a spendthrift provision, notwithstanding the beneficiary's right to force a distribution with regard to a mandatory or support interest, no creditor may force a distribution with regard to a mandatory or support interest. No creditor may reach present or future support distributions with regard to a mandatory or support interest.</span></p><p dir="ltr" class="s2072556Normal-000001"><span class="s2072556DefaultParagraphFont">Regardless of whether a beneficiary has any outstanding creditor, a trustee of a mandatory or a support interest may directly pay any expense on behalf of such beneficiary. No trustee is liable to any creditor for paying the expenses of a beneficiary of a mandatory or support interest.</span></p><p dir="ltr" class="s2072556Normal"><span xml:space="preserve" class="s2072556000002"> </span></p><p dir="ltr" class="s2072556Normal"><span class="s2072556SCL">Source:</span><span xml:space="preserve" class="s2072556SCL-000003"> SL 2007, ch 280, § 19; SL 2008, ch 257, § 8; SL 2009, ch 252, § 10.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072557Normal { 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.s2072557SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072557CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072557Normal-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.s2072557DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072557Normal-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; } p.s2072557Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2072557Normal-000003 { text-indent: 0.25in; 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.s2072557000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072557SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072557SCL-000005 { 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="s2072557Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-43"><span class="s2072557SENU">55-1-43</span></a><span xml:space="preserve" class="s2072557SENU">. </span><span class="s2072557CL">Discretionary interests.</span></p><p dir="ltr" class="s2072557Normal-000000"><span class="s2072557DefaultParagraphFont">The following provisions apply only to discretionary interests:</span></p><p dir="ltr" class="s2072557Normal-000001"><span class="s2072557DefaultParagraphFont">(1)    A discretionary interest is neither a property interest nor an enforceable right. It is a mere expectancy;</span></p><p dir="ltr" class="s2072557Normal-000001"><span class="s2072557DefaultParagraphFont">(2)    No creditor may force a distribution with regard to a discretionary interest. No creditor may require the trustee to exercise the trustee's discretion to make a distribution with regard to a discretionary interest;</span></p><p dir="ltr" class="s2072557Normal-000001"><span class="s2072557DefaultParagraphFont">(3)    A court may review a trustee's distribution discretion only if the trustee:</span></p><p dir="ltr" class="s2072557Normal-000002"><span class="s2072557DefaultParagraphFont">(a)    Acts dishonestly;</span></p><p dir="ltr" class="s2072557Normal-000002"><span class="s2072557DefaultParagraphFont">(b)    Acts with an improper motive; or</span></p><p dir="ltr" class="s2072557Normal-000002"><span class="s2072557DefaultParagraphFont">(c)    Fails, if under a duty to do so, to act.</span></p><p dir="ltr" class="s2072557Normal"><span class="s2072557DefaultParagraphFont">A reasonableness standard may not be applied to the exercise of discretion by the trustee with regard to a discretionary interest. Other than for the three circumstances listed in this subdivision, a court has no jurisdiction to review the trustee's discretion or to force a distribution.</span></p><p dir="ltr" class="s2072557Normal-000003"><span class="s2072557DefaultParagraphFont">Absent express language to the contrary, in the event that the distribution language in a discretionary interest permits unequal distributions between beneficiaries or distributions to the exclusion of other beneficiaries, the trustee may distribute all of the accumulated, accrued, or undistributed income and principal to one beneficiary in the trustee's discretion.</span></p><p dir="ltr" class="s2072557Normal-000003"><span class="s2072557DefaultParagraphFont">Regardless of whether a beneficiary has any outstanding creditor, a trustee of a discretionary interest may directly pay any expense on behalf of such beneficiary and may exhaust the income and principal of the trust for the benefit of such beneficiary. No trustee is liable to any creditor for paying the expenses of a beneficiary of a discretionary interest.</span></p><p dir="ltr" class="s2072557Normal"><span xml:space="preserve" class="s2072557000004"> </span></p><p dir="ltr" class="s2072557Normal"><span class="s2072557SCL">Source:</span><span xml:space="preserve" class="s2072557SCL-000005"> SL 2007, ch 280, § 20; SL 2009, ch 252, § 11.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2079869Normal { 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.s2079869SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079869CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2079869Statute { 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.s2079869DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079869000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079869DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079869SCL { 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="s2079869Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-44"><span class="s2079869SENU">55-1-44</span></a><span xml:space="preserve" class="s2079869SENU">. </span><span class="s2079869CL">Action for fraudulent transfer of settlor's assets--Jurisdiction--Attorneys' fees and costs--Burden of proof.</span></p><p dir="ltr" class="s2079869Statute"><span class="s2079869DefaultParagraphFont">Notwithstanding any other provision of law, no action of any kind, including an action to enforce a judgment entered by a court or other body having adjudicative authority, may be brought at law or in equity for an attachment or other provisional remedy against property that is the subject of a South Dakota trust or for avoidance of a transfer to a South Dakota trust unless the settlor's transfer of property was made with the intent to defraud that specific creditor. A court of this state has exclusive jurisdiction over an action brought under a claim for relief that is based on a transfer of property to a trust that is the subject of this section. A court of this state may award attorneys' fees and costs to the prevailing party in such an action. In any action described in this section, the burden to prove the matter by clear and convincing evidence is upon the creditor.</span></p><p dir="ltr" class="s2079869Normal"><span xml:space="preserve" class="s2079869000000"> </span></p><p dir="ltr" class="s2079869Normal"><span xml:space="preserve" class="s2079869DefaultParagraphFont-000001">Source: </span><span class="s2079869SCL">SL 2011, ch 212, § 36; SL 2020, ch 206, § 5.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2079868Normal { 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.s2079868SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079868CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2079868Statute { 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.s2079868DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2079868StatuteNumber1 { 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; } a.s2079868000000 { text-decoration: none; } p.s2079868StatuteNumber2 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2079868StatuteNumber3 { margin-left: 1.58in; text-indent: -0.44in; 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.s2079868000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079868DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079868SCL { 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="s2079868Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-45"><span class="s2079868SENU">55-1-45</span></a><span xml:space="preserve" class="s2079868SENU">. </span><span class="s2079868CL">Limitation of action for fraudulent transfer of settlor's assets.</span></p><p dir="ltr" class="s2079868Statute"><span xml:space="preserve" class="s2079868DefaultParagraphFont">A cause of action or claim for relief with respect to a fraudulent transfer of a settlor's assets pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-44"><span class="s2079868DefaultParagraphFont">55-1-44</span></a><span xml:space="preserve" class="s2079868DefaultParagraphFont"> is extinguished unless the action under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-44"><span class="s2079868DefaultParagraphFont">55-1-44</span></a><span xml:space="preserve" class="s2079868DefaultParagraphFont"> is brought by a creditor of the settlor who meets one of the following requirements:</span></p><p dir="ltr" class="s2079868StatuteNumber1"><a id="_pagenumber4" class="s2079868000000"></a><span xml:space="preserve" class="s2079868DefaultParagraphFont">(1)    Is a creditor of the settlor before the settlor's assets are transferred to the trust, and the action under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-44"><span class="s2079868DefaultParagraphFont">55-1-44</span></a><span xml:space="preserve" class="s2079868DefaultParagraphFont"> is brought within the later of:</span></p><p dir="ltr" class="s2079868StatuteNumber2"><span class="s2079868DefaultParagraphFont">(a)    Two years after the transfer is made; or</span></p><p dir="ltr" class="s2079868StatuteNumber2"><span class="s2079868DefaultParagraphFont">(b)    Six months after the transfer is or reasonably could have been discovered by the creditor if the creditor:</span></p><p dir="ltr" class="s2079868StatuteNumber3"><span class="s2079868DefaultParagraphFont">(i)    Can demonstrate that the creditor asserted a specific claim against the settlor before the transfer; or</span></p><p dir="ltr" class="s2079868StatuteNumber3"><span xml:space="preserve" class="s2079868DefaultParagraphFont">(ii)    Files another action, other than an action under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-44"><span class="s2079868DefaultParagraphFont">55-1-44</span></a><span class="s2079868DefaultParagraphFont">, against the settlor that asserts a claim based on an act or omission of the settlor that occurred before the transfer, and the action described in this subsection is filed within two years after the transfer; or</span></p><p dir="ltr" class="s2079868StatuteNumber1"><span xml:space="preserve" class="s2079868DefaultParagraphFont">(2)    Becomes a creditor subsequent to the transfer into trust, and the action under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-44"><span class="s2079868DefaultParagraphFont">55-1-44</span></a><span xml:space="preserve" class="s2079868DefaultParagraphFont"> is brought within two years after the transfer is made.</span></p><p dir="ltr" class="s2079868Normal"><span xml:space="preserve" class="s2079868000001"> </span></p><p dir="ltr" class="s2079868Normal"><span xml:space="preserve" class="s2079868DefaultParagraphFont-000002">Source: </span><span class="s2079868SCL">SL 2011, ch 212, § 37; SL 2013, ch 239, § 23; SL 2020, ch 206, § 6.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072560Normal { 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.s2072560SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072560CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072560Normal-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.s2072560DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072560Normal-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.s2072560000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072560SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072560SCL-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="s2072560Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-46"><span class="s2072560SENU">55-1-46</span></a><span xml:space="preserve" class="s2072560SENU">. </span><span class="s2072560CL">No contest clause defined--Enforceability.</span></p><p dir="ltr" class="s2072560Normal-000000"><span xml:space="preserve" class="s2072560DefaultParagraphFont">For purposes of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-46"><span class="s2072560DefaultParagraphFont">55-1-46</span></a><span xml:space="preserve" class="s2072560DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-51"><span class="s2072560DefaultParagraphFont">55-1-51</span></a><span xml:space="preserve" class="s2072560DefaultParagraphFont">, inclusive, a no contest clause is a provision or clause in a trust, that penalizes a qualified beneficiary for contesting a trust or instituting other proceedings at law or equity relating to the trust estate, excluding proceedings related to trust administration. Except as provided in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-47"><span class="s2072560DefaultParagraphFont">55-1-47</span></a><span xml:space="preserve" class="s2072560DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-51"><span class="s2072560DefaultParagraphFont">55-1-51</span></a><span class="s2072560DefaultParagraphFont">, inclusive, a no contest clause shall be enforced unless probable cause exists for instituting the proceeding on the grounds of:</span></p><p dir="ltr" class="s2072560Normal-000001"><span class="s2072560DefaultParagraphFont">(1)    Fraud;</span></p><p dir="ltr" class="s2072560Normal-000001"><span class="s2072560DefaultParagraphFont">(2)    Duress;</span></p><p dir="ltr" class="s2072560Normal-000001"><span class="s2072560DefaultParagraphFont">(3)    Revocation;</span></p><p dir="ltr" class="s2072560Normal-000001"><span class="s2072560DefaultParagraphFont">(4)    Lack of contractual capacity;</span></p><p dir="ltr" class="s2072560Normal-000001"><span class="s2072560DefaultParagraphFont">(5)    Undue influence;</span></p><p dir="ltr" class="s2072560Normal-000001"><span class="s2072560DefaultParagraphFont">(6)    Mistake;</span></p><p dir="ltr" class="s2072560Normal-000001"><span class="s2072560DefaultParagraphFont">(7)    Forgery; or</span></p><p dir="ltr" class="s2072560Normal-000001"><span class="s2072560DefaultParagraphFont">(8)    Irregularity in the execution of the trust document.</span></p><p dir="ltr" class="s2072560Normal"><span xml:space="preserve" class="s2072560000002"> </span></p><p dir="ltr" class="s2072560Normal"><span class="s2072560SCL">Source:</span><span xml:space="preserve" class="s2072560SCL-000003"> SL 2012, ch 233, § 8.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072561Normal { 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.s2072561SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072561CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072561Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072561DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072561000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072561SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072561SCL-000002 { 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="s2072561Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-47"><span class="s2072561SENU">55-1-47</span></a><span xml:space="preserve" class="s2072561SENU">. </span><span class="s2072561CL">Extrinsic evidence not admissible to establish settlor's intent concerning no contest clause.</span></p><p dir="ltr" class="s2072561Normal-000000"><span class="s2072561DefaultParagraphFont">A no contest clause shall be construed to carry out the settlor's intent. Except to the extent the no contest clause in the trust is vague or ambiguous, extrinsic evidence is not admissible to establish the settlor's intent concerning the no contest clause. The provisions of this section do not prohibit such evidence from being admitted for any other purpose authorized by law.</span></p><p dir="ltr" class="s2072561Normal"><span xml:space="preserve" class="s2072561000001"> </span></p><p dir="ltr" class="s2072561Normal"><span class="s2072561SCL">Source:</span><span xml:space="preserve" class="s2072561SCL-000002"> SL 2012, ch 233, § 9.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072562Normal { 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.s2072562SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072562CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072562Normal-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.s2072562DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072562Normal-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.s2072562000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072562SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072562SCL-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="s2072562Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-48"><span class="s2072562SENU">55-1-48</span></a><span xml:space="preserve" class="s2072562SENU">. </span><span class="s2072562CL">Circumstances under which no contest clause unenforceable.</span></p><p dir="ltr" class="s2072562Normal-000000"><span class="s2072562DefaultParagraphFont">A no contest clause is not enforceable against a beneficiary to the extent the beneficiary, in good faith and based upon probable cause, contests a provision that benefits any of the following persons:</span></p><p dir="ltr" class="s2072562Normal-000001"><span class="s2072562DefaultParagraphFont">(1)    A person who drafted or transcribed the instrument;</span></p><p dir="ltr" class="s2072562Normal-000001"><span class="s2072562DefaultParagraphFont">(2)    A person who gave directions to the drafter of the instrument concerning dispositive or other substantive contents of the provisions or who directed the drafter to include the no contest clause in the instrument. However, this subdivision does not apply if the settlor affirmatively instructed the drafter to include the contents of the provision or the no contest clause; or</span></p><p dir="ltr" class="s2072562Normal-000001"><span class="s2072562DefaultParagraphFont">(3)    A person who acted as a witness to the instrument.</span></p><p dir="ltr" class="s2072562Normal"><span xml:space="preserve" class="s2072562000002"> </span></p><p dir="ltr" class="s2072562Normal"><span class="s2072562SCL">Source:</span><span xml:space="preserve" class="s2072562SCL-000003"> SL 2012, ch 233, § 10.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072563Normal { 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.s2072563SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072563CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072563Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072563DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072563000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072563SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072563SCL-000002 { 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="s2072563Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-49"><span class="s2072563SENU">55-1-49</span></a><span xml:space="preserve" class="s2072563SENU">. </span><span class="s2072563CL">Contest regarding settlor's signature.</span></p><p dir="ltr" class="s2072563Normal-000000"><span xml:space="preserve" class="s2072563DefaultParagraphFont">Notwithstanding anything to the contrary in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-46"><span class="s2072563DefaultParagraphFont">55-1-46</span></a><span xml:space="preserve" class="s2072563DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-51"><span class="s2072563DefaultParagraphFont">55-1-51</span></a><span class="s2072563DefaultParagraphFont">, inclusive, a no contest clause is enforceable against a beneficiary to the extent the beneficiary elects to contest or otherwise challenge the settlor's signature whereby such a challenge does not in any manner constitute good, probable, or reasonable cause if the settlor's signature was witnessed by nonrelative witnesses or a duly qualified nonrelative notary public or both.</span></p><p dir="ltr" class="s2072563Normal"><span xml:space="preserve" class="s2072563000001"> </span></p><p dir="ltr" class="s2072563Normal"><span class="s2072563SCL">Source:</span><span xml:space="preserve" class="s2072563SCL-000002"> SL 2012, ch 233, § 11.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072564Normal { 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.s2072564SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072564CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072564Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072564DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072564000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072564SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072564SCL-000002 { 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="s2072564Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-50"><span class="s2072564SENU">55-1-50</span></a><span xml:space="preserve" class="s2072564SENU">. </span><span class="s2072564CL">Attorneys fees and costs.</span></p><p dir="ltr" class="s2072564Normal-000000"><span class="s2072564DefaultParagraphFont">The court may award attorneys fees and costs to the prevailing party in an action involving the enforceability of a no contest provision.</span></p><p dir="ltr" class="s2072564Normal"><span xml:space="preserve" class="s2072564000001"> </span></p><p dir="ltr" class="s2072564Normal"><span class="s2072564SCL">Source:</span><span xml:space="preserve" class="s2072564SCL-000002"> SL 2012, ch 233, § 12.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072565Normal { 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.s2072565SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072565CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072565Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072565DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072565000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072565SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072565SCL-000002 { 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="s2072565Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-51"><span class="s2072565SENU">55-1-51</span></a><span xml:space="preserve" class="s2072565SENU">. </span><span xml:space="preserve" class="s2072565CL">Applicability of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-46"><span class="s2072565CL">55-1-46</span></a><span xml:space="preserve" class="s2072565CL"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-50"><span class="s2072565CL">55-1-50</span></a><span class="s2072565CL">.</span></p><p dir="ltr" class="s2072565Normal-000000"><span xml:space="preserve" class="s2072565DefaultParagraphFont">Sections </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-46"><span class="s2072565DefaultParagraphFont">55-1-46</span></a><span xml:space="preserve" class="s2072565DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-50"><span class="s2072565DefaultParagraphFont">55-1-50</span></a><span class="s2072565DefaultParagraphFont">, inclusive, are effective for all trusts in existence on, created, amended, or restated after July 1, 2012.</span></p><p dir="ltr" class="s2072565Normal"><span xml:space="preserve" class="s2072565000001"> </span></p><p dir="ltr" class="s2072565Normal"><span class="s2072565SCL">Source:</span><span xml:space="preserve" class="s2072565SCL-000002"> SL 2012, ch 233, § 13; SL 2013, ch 239, § 12.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072566Normal { 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.s2072566SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072566CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072566Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072566DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072566000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072566SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072566SCL-000002 { 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="s2072566Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-52"><span class="s2072566SENU">55-1-52</span></a><span xml:space="preserve" class="s2072566SENU">. </span><span class="s2072566CL">Interest on general pecuniary devises.</span></p><p dir="ltr" class="s2072566Normal-000000"><span xml:space="preserve" class="s2072566DefaultParagraphFont">General pecuniary devises bear interest at the Category B rate of interest as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-16"><span class="s2072566DefaultParagraphFont">54-3-16</span></a><span xml:space="preserve" class="s2072566DefaultParagraphFont"> beginning one year after the event requiring a distribution until payment, unless a contrary intent is indicated by the terms of the trust.</span></p><p dir="ltr" class="s2072566Normal"><span xml:space="preserve" class="s2072566000001"> </span></p><p dir="ltr" class="s2072566Normal"><span class="s2072566SCL">Source:</span><span xml:space="preserve" class="s2072566SCL-000002"> SL 2013, ch 239, § 15.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072567Normal { 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.s2072567SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072567CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072567Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072567DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072567000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072567SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072567SCL-000002 { 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="s2072567Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-53"><span class="s2072567SENU">55-1-53</span></a><span xml:space="preserve" class="s2072567SENU">. </span><span class="s2072567CL">Expansion, restriction, elimination, or variance of provisions of general application.</span></p><p dir="ltr" class="s2072567Normal-000000"><span xml:space="preserve" class="s2072567DefaultParagraphFont">The terms of a governing instrument may expand, restrict, eliminate, or otherwise vary any provisions of general application to trusts and trust administration. Nothing in this section allows the terms of the governing instrument to expand, restrict, eliminate, or otherwise vary the duties, restrictions, and liabilities imposed by the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-4-11"><span class="s2072567DefaultParagraphFont">55-4-11</span></a><span xml:space="preserve" class="s2072567DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-4-12"><span class="s2072567DefaultParagraphFont">55-4-12</span></a><span class="s2072567DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072567Normal"><span xml:space="preserve" class="s2072567000001"> </span></p><p dir="ltr" class="s2072567Normal"><span class="s2072567SCL">Source:</span><span xml:space="preserve" class="s2072567SCL-000002"> SL 2015, ch 240, § 14; SL 2018, ch 275, § 21.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072568Normal { 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.s2072568SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072568CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072568Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072568DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072568000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072568SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072568SCL-000002 { 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="s2072568Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-54"><span class="s2072568SENU">55-1-54</span></a><span xml:space="preserve" class="s2072568SENU">. </span><span class="s2072568CL">Arbitration.</span></p><p dir="ltr" class="s2072568Normal-000000"><span xml:space="preserve" class="s2072568DefaultParagraphFont">In addition to the trustee's power to submit to an arbitration claim in favor of or against a trust or trustee as set forth in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-25"><span class="s2072568DefaultParagraphFont">55-1A-25</span></a><span xml:space="preserve" class="s2072568DefaultParagraphFont">, a provision in a trust requiring the arbitration of a dispute between or among the beneficiaries, a fiduciary under the will or trust, or any combination of them, is enforceable pursuant to the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-25A"><span class="s2072568DefaultParagraphFont">21-25A</span></a><span xml:space="preserve" class="s2072568DefaultParagraphFont">. Unless otherwise provided in the governing instrument or a court order, the arbitration shall be held in this state. Notwithstanding the foregoing, a challenge to the validity of all or part of the trust is not subject to arbitration. Any proceeding pursuant to this section is subject, upon request by the acting trustee, the trustor, if living, or any beneficiary, to the privacy protections of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-22-28"><span class="s2072568DefaultParagraphFont">21-22-28</span></a><span class="s2072568DefaultParagraphFont">. The arbitrator shall grant the request, if made.</span></p><p dir="ltr" class="s2072568Normal"><span xml:space="preserve" class="s2072568000001"> </span></p><p dir="ltr" class="s2072568Normal"><span class="s2072568SCL">Source:</span><span xml:space="preserve" class="s2072568SCL-000002"> SL 2015, ch 240, § 15.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072569Normal { 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.s2072569SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072569CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072569Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072569DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072569000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072569SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072569SCL-000002 { 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="s2072569Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-55"><span class="s2072569SENU">55-1-55</span></a><span xml:space="preserve" class="s2072569SENU">. </span><span class="s2072569CL">Trust enforceable although not funded or without res, corpus, or assets.</span></p><p dir="ltr" class="s2072569Normal-000000"><span class="s2072569DefaultParagraphFont">A trust is valid and enforceable even though it may not be funded at a given time, or from time to time, or does not initially have any res or corpus or otherwise contain any asset of any nature. A trust is valid and enforceable even though its res is neither ascertainable nor identifiable at the time of the trust's creation. No trustee, trust protector, or trust advisor has any duty prior to the time a trust has a res, corpus, or any asset.</span></p><p dir="ltr" class="s2072569Normal"><span xml:space="preserve" class="s2072569000001"> </span></p><p dir="ltr" class="s2072569Normal"><span class="s2072569SCL">Source:</span><span xml:space="preserve" class="s2072569SCL-000002"> SL 2016, ch 231, § 14.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072570Normal { 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.s2072570SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072570CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072570Normal-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.s2072570DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072570Normal-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.s2072570000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072570SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072570SCL-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="s2072570Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-56"><span class="s2072570SENU">55-1-56</span></a><span xml:space="preserve" class="s2072570SENU">. </span><span class="s2072570CL">Registration of trust in court at principal place of administration.</span></p><p dir="ltr" class="s2072570Normal-000000"><span class="s2072570DefaultParagraphFont">The trustee of a trust that has its principal place of administration in this state may register the trust in the court of this state at the principal place of administration. Unless otherwise designated in the trust instrument, the principal place of administration of a trust is the trustee's place of business where the records pertaining to the trust are kept, or at the trustee's residence if the trustee has no such place of business. In the case of co-trustees, the principal place of administration, if not otherwise designated in the trust instrument, is:</span></p><p dir="ltr" class="s2072570Normal-000001"><span class="s2072570DefaultParagraphFont">(1)    The place of business of the corporate trustee if there is only one corporate co-trustee;</span></p><p dir="ltr" class="s2072570Normal-000001"><span class="s2072570DefaultParagraphFont">(2)    The place of business or residence of the individual trustee who is a professional fiduciary if there is only one such person and no corporate co-trustee; or</span></p><p dir="ltr" class="s2072570Normal-000001"><span class="s2072570DefaultParagraphFont">(3)    The place of business or residence of any of the co-trustees as agreed upon by the co-trustees.</span></p><p dir="ltr" class="s2072570Normal"><span xml:space="preserve" class="s2072570000002"> </span></p><p dir="ltr" class="s2072570Normal"><span class="s2072570SCL">Source:</span><span xml:space="preserve" class="s2072570SCL-000003"> SL 2017, ch 204, § 8.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072571Normal { 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.s2072571SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072571CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072571Normal-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.s2072571DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072571Normal-000001 { text-indent: 0.25in; 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; } p.s2072571Normal-000002 { 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.s2072571000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072571SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072571SCL-000004 { 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="s2072571Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-57"><span class="s2072571SENU">55-1-57</span></a><span xml:space="preserve" class="s2072571SENU">. </span><span class="s2072571CL">Contents of registration statement.</span></p><p dir="ltr" class="s2072571Normal-000000"><span class="s2072571DefaultParagraphFont">Registration shall be accomplished by filing a statement indicating the name and address of the trustee in which it acknowledges the trusteeship. The statement shall indicate whether the trust has been registered elsewhere.</span></p><p dir="ltr" class="s2072571Normal-000001"><span class="s2072571DefaultParagraphFont">The statement shall identify the trust:</span></p><p dir="ltr" class="s2072571Normal-000002"><span xml:space="preserve" class="s2072571DefaultParagraphFont">(1)    In the case of a testamentary trust, by the name of the testator and the date and place of domiciliary probate; or in the case of a written inter vivos trust, by the name of each settlor and the original trustee and the date of the trust instrument; </span></p><p dir="ltr" class="s2072571Normal-000002"><span class="s2072571DefaultParagraphFont">(2)     If a trust has been registered elsewhere, registration in this state is ineffective until either the earlier registration is released by order of the court where prior registration occurred or an instrument executed by the trustee and all current income or principal beneficiaries is filed with the registration in this state;</span></p><p dir="ltr" class="s2072571Normal-000002"><span class="s2072571DefaultParagraphFont">(3)    The name and address of each co-trustee, trust advisor, trust protector, or other trust fiduciary;</span></p><p dir="ltr" class="s2072571Normal-000002"><span class="s2072571DefaultParagraphFont">(4)    A statement that the trustee acknowledges the trusteeship and submits to the jurisdiction of the court in any proceeding relating to the trust that may be initiated by any interested person while the trust remains registered, providing that notice is given as provided by law.</span></p><p dir="ltr" class="s2072571Normal"><span xml:space="preserve" class="s2072571000003"> </span></p><p dir="ltr" class="s2072571Normal"><span class="s2072571SCL">Source:</span><span xml:space="preserve" class="s2072571SCL-000004"> SL 2017, ch 204, § 9.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072572Normal { 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.s2072572SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072572CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072572Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072572DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072572Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072572000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072572SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072572SCL-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="s2072572Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-58"><span class="s2072572SENU">55-1-58</span></a><span xml:space="preserve" class="s2072572SENU">. </span><span class="s2072572CL">Confidentiality of registration.</span></p><p dir="ltr" class="s2072572Normal-000000"><span class="s2072572DefaultParagraphFont">The registration shall be sealed and kept confidential except as provided below.</span></p><p dir="ltr" class="s2072572Normal-000001"><span class="s2072572DefaultParagraphFont">The settlor, a trustee, trust advisor, or trust protector may obtain a certified copy of the registration but no other person or entity, absent a court order, may view or obtain a copy of the trust registration.</span></p><p dir="ltr" class="s2072572Normal-000001"><span class="s2072572DefaultParagraphFont">The registration may be cancelled by the clerk of courts upon receipt of an instrument executed by the trustee and all current income and principal beneficiaries or upon receipt of a court order.</span></p><p dir="ltr" class="s2072572Normal"><span xml:space="preserve" class="s2072572000002"> </span></p><p dir="ltr" class="s2072572Normal"><span class="s2072572SCL">Source:</span><span xml:space="preserve" class="s2072572SCL-000003"> SL 2017, ch 204, § 10.</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 - CLASSIFICATION AND CREATION OF TRUSTS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072573Normal { 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.s2072573SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072573CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072573Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072573DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072573000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072573Normal-000002 { margin-top: 0; margin-bottom: 0; margin-left: 1.50in; text-indent: -1.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } span.s2072573B { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072573CLP { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072573Normal-000003 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072573SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072573SCL-000004 { 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="s2072573Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1-59"><span class="s2072573SENU">55-1-59</span></a><span xml:space="preserve" class="s2072573SENU">. </span><span class="s2072573CL">Trust registration form.</span></p><p dir="ltr" class="s2072573Normal-000000"><span class="s2072573DefaultParagraphFont">The trust registration form may be substantially similar to the following form:</span></p><p dir="ltr" class="s2072573Normal"><span xml:space="preserve" class="s2072573000001"> </span></p><p dir="ltr" class="s2072573Normal-000002"><span class="s2072573B">State of Court Dakota     _______________ Judicial Circuit</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">County of _______________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Trust Registration No. _______________</span></p><p dir="ltr" class="s2072573Normal"><span xml:space="preserve" class="s2072573CLP">    REGISTRATION OF TRUST</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Name of Trust:</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">______________________________________________________________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Name &amp; Address of Trustee:</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">______________________________________________________________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Name &amp; Address of Co-Trustees:</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">______________________________________________________________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Names and Address of any trust advisors, trust protectors or other trust fiduciaries:</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">______________________________________________________________________________</span></p><p dir="ltr" class="s2072573Normal-000003"><span class="s2072573DefaultParagraphFont">Trustee hereby acknowledges this trusteeship and submits to the jurisdiction of the court in any proceeding relating to the trust that may be initiated by any interested person while the trust remains registered, providing that notice is given as provided by law.</span></p><p dir="ltr" class="s2072573Normal-000003"><span class="s2072573DefaultParagraphFont">The trust (has) (has not) been registered in another jurisdiction. (If registered elsewhere, state where other registration was made.)</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">______________________________________________________________________________</span></p><p dir="ltr" class="s2072573Normal-000003"><span class="s2072573DefaultParagraphFont">Note: If a trust has been registered elsewhere, registration in this state is ineffective until either the earlier registration is released by order of the court where prior registration occurred or an instrument executed by the trustee and all current income and principal beneficiaries is filed with the registration in this state.</span></p><p dir="ltr" class="s2072573Normal-000003"><span class="s2072573DefaultParagraphFont">The trust is: (Check one and fill in the blanks.)</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">A testamentary trust. ____ Name of testator:</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">__________________________________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Date and place of domiciliary probate:</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">__________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">A written inter vivos trust. ____ Name of settlor:</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">__________________________________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Name of original trustee:</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">__________________________________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Date of trust instrument:</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">__________________________________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Trustee's Signature __________________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Date:___________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Trustee's Signature __________________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Date:___________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Registered in the Circuit Court, _____ Judicial Circuit on ____________________ , 20______ .</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">___________________________________________</span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573DefaultParagraphFont">Circuit Court Clerk</span></p><p dir="ltr" class="s2072573Normal"><span xml:space="preserve" class="s2072573000001"> </span></p><p dir="ltr" class="s2072573Normal"><span class="s2072573SCL">Source:</span><span xml:space="preserve" class="s2072573SCL-000004"> SL 2017, ch 204, § 11.</span></p></div></body></html>