<HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-10A - UNIFORM TRANSFERS TO MINORS ACT 55-10A UNIFORM TRANSFERS TO MINORS ACT </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 55-10A UNIFORM TRANSFERS TO MINORS ACT "> <META NAME="Description" Content="South Dakota Codified Laws 55-10A"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 55-10A <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> UNIFORM TRANSFERS TO MINORS ACT <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-1">55-10A-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Definitions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-2">55-10A-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Scope and jurisdiction. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-3">55-10A-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Nomination of custodian. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-4">55-10A-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Transfer by gift or exercise of power of appointment. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-5">55-10A-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Transfer authorized by will or trust. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-6">55-10A-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Other transfer by fiduciary. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-7">55-10A-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Transfer by obligor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-8">55-10A-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Receipt for custodial property. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-9">55-10A-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Manner of creating custodial property and effecting transfer. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-10">55-10A-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Designation of initial custodian. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-11">55-10A-11</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Control. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-12">55-10A-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Single custodianship. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-13">55-10A-13</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Validity and effect of transfer. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-14">55-10A-14</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Care of custodial property. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-15">55-10A-15</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Powers of custodian. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-16">55-10A-16</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Use of custodial property. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-17">55-10A-17</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Custodian's expenses, compensation, and bond. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-18">55-10A-18</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Exemption of third person from liability. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-19">55-10A-19</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Liability to third persons. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-20">55-10A-20</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Renunciation, resignation, death, or removal of custodian--Designation of successor custodian. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-21">55-10A-21</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Accounting by and determination of liability of custodian. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-22">55-10A-22</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Termination of custodianship. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-23">55-10A-23</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Applicability. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-24">55-10A-24</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Effect on existing custodianships. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-25">55-10A-25</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Short title. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-10A-26">55-10A-26</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repeal of the Gifts to Minors Act.<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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072838Normal { 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.s2072838SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072838CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072838Normal-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.s2072838DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072838Normal-000001 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } span.s2072838000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072838SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072838SCL-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="s2072838Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-1"><span class="s2072838SENU">55-10A-1</span></a><span xml:space="preserve" class="s2072838SENU">. </span><span class="s2072838CL">Definitions.</span></p><p dir="ltr" class="s2072838Normal-000000"><span class="s2072838DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(1)    "Adult," a person who has attained the age of eighteen years;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(2)    "Benefit plan," an employer's plan for the benefit of an employee or partner;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(3)    "Broker," a person lawfully engaged in the business of effecting transactions in securities or commodities for the person's own account or for the account of others;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(4)    "Conservator," a person appointed or qualified by a court to act as general, limited or temporary conservator of a minor's property or a person legally authorized to perform substantially the same functions;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(5)    "Custodial property," any interest in property transferred to a custodian under this chapter and the income from and proceeds of that interest in property;</span></p><p dir="ltr" class="s2072838Normal-000001"><span xml:space="preserve" class="s2072838DefaultParagraphFont">(6)    "Custodian," a person so designated under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072838DefaultParagraphFont">55-10A-9</span></a><span xml:space="preserve" class="s2072838DefaultParagraphFont"> or a successor or substitute custodian designated under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-18"><span class="s2072838DefaultParagraphFont">55-10A-18</span></a><span class="s2072838DefaultParagraphFont">;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(7)    "Financial institution," a bank, trust company, savings institution or credit union, chartered and supervised under state or federal law;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(8)    "Legal representative," an individual's personal representative or conservator;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(9)    "Member of the minor's family," the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of the whole or half blood or by adoption;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(10)    "Minor," a person who has not attained the age of eighteen years;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(11)    "Personal representative," an executor, administrator, successor personal representative or special administrator of a decedent's estate or a person legally authorized to perform substantially the same functions;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(11A)    "Qualified minor's trust," a trust, including a trust created by a custodian, of which a minor is the sole income beneficiary and that satisfies the requirements of Section 2503(c) of the Federal Internal Revenue Code of 1986 and the regulations implementing that section;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(12)    "State," includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States;</span></p><p dir="ltr" class="s2072838Normal-000001"><span xml:space="preserve" class="s2072838DefaultParagraphFont">(13)    "Transfer," a transaction that creates custodial property under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072838DefaultParagraphFont">55-10A-9</span></a><span class="s2072838DefaultParagraphFont">;</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(14)    "Transferor," a person who makes a transfer under this chapter; and</span></p><p dir="ltr" class="s2072838Normal-000001"><span class="s2072838DefaultParagraphFont">(15)    "Trust company," a financial institution, corporation or other legal entity, authorized to exercise general trust powers.</span></p><p dir="ltr" class="s2072838Normal"><span xml:space="preserve" class="s2072838000002"> </span></p><p dir="ltr" class="s2072838Normal"><span class="s2072838SCL">Source:</span><span xml:space="preserve" class="s2072838SCL-000003"> SL 1986, ch 409, § 1; SL 1993, ch 213, § 256; SL 2008, ch 257, § 13.</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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072839Normal { 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.s2072839SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072839CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072839Normal-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.s2072839DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072839000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072839SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072839SCL-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="s2072839Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-2"><span class="s2072839SENU">55-10A-2</span></a><span xml:space="preserve" class="s2072839SENU">. </span><span class="s2072839CL">Scope and jurisdiction.</span></p><p dir="ltr" class="s2072839Normal-000000"><span xml:space="preserve" class="s2072839DefaultParagraphFont">This chapter applies to any transfer that refers to this chapter in the designation under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072839DefaultParagraphFont">55-10A-9</span></a><span xml:space="preserve" class="s2072839DefaultParagraphFont"> by which the transfer is made if at the time of the transfer, the transferor, the minor or the custodian is a resident of this state or the custodial property is located in this state. The custodianship so created remains subject to this chapter despite a subsequent change in residence of a transferor, the minor, or the custodian or the removal of custodial property from this state. A person designated as custodian under this chapter is subject to personal jurisdiction in this state with respect to any matter relating to the custodianship. A transfer that purports to be made and which is valid under the Uniform Transfers to Minors Act, the Uniform Gifts to Minors Act or a substantially similar act, of another state is governed by the law of the designated state and may be executed and is enforceable in this state if at the time of the transfer, the transferor, the minor or the custodian is a resident of the designated state or the custodial property is located in the designated state.</span></p><p dir="ltr" class="s2072839Normal"><span xml:space="preserve" class="s2072839000001"> </span></p><p dir="ltr" class="s2072839Normal"><span class="s2072839SCL">Source:</span><span xml:space="preserve" class="s2072839SCL-000002"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072840Normal { 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.s2072840SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072840CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072840Normal-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.s2072840DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072840000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072840SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072840SCL-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="s2072840Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-3"><span class="s2072840SENU">55-10A-3</span></a><span xml:space="preserve" class="s2072840SENU">. </span><span class="s2072840CL">Nomination of custodian.</span></p><p dir="ltr" class="s2072840Normal-000000"><span xml:space="preserve" class="s2072840DefaultParagraphFont">Any person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian followed in substance by the words: "as custodian for __________________________ (name of minor) under the South Dakota Uniform Transfers to Minors Act." The nomination may name one or more persons as substitute custodians to whom the property must be transferred, in the order named, if the first nominated custodian dies before the transfer or is unable, declines or is ineligible to serve. The nomination may be made in a will, a trust, a deed, an instrument exercising a power of appointment, or in a writing designating a beneficiary of contractual rights which is registered with or delivered to the payor, issuer or other obligor of the contractual rights. A custodian nominated under this section shall be a person to whom a transfer of property of that kind may be made under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072840DefaultParagraphFont">55-10A-9</span></a><span xml:space="preserve" class="s2072840DefaultParagraphFont">. The nomination of a custodian under this section does not create custodial property until the nominating instrument becomes irrevocable or a transfer to the nominated custodian is completed under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072840DefaultParagraphFont">55-10A-9</span></a><span xml:space="preserve" class="s2072840DefaultParagraphFont">. Unless the nomination of a custodian has been revoked, upon the occurrence of the future event the custodianship becomes effective and the custodian shall enforce a transfer of the custodial property pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072840DefaultParagraphFont">55-10A-9</span></a><span class="s2072840DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072840Normal"><span xml:space="preserve" class="s2072840000001"> </span></p><p dir="ltr" class="s2072840Normal"><span class="s2072840SCL">Source:</span><span xml:space="preserve" class="s2072840SCL-000002"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072841Normal { 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.s2072841SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072841CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072841Normal-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.s2072841DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072841000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072841SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072841SCL-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="s2072841Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-4"><span class="s2072841SENU">55-10A-4</span></a><span xml:space="preserve" class="s2072841SENU">. </span><span class="s2072841CL">Transfer by gift or exercise of power of appointment.</span></p><p dir="ltr" class="s2072841Normal-000000"><span xml:space="preserve" class="s2072841DefaultParagraphFont">Any person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072841DefaultParagraphFont">55-10A-9</span></a><span class="s2072841DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072841Normal"><span xml:space="preserve" class="s2072841000001"> </span></p><p dir="ltr" class="s2072841Normal"><span class="s2072841SCL">Source:</span><span xml:space="preserve" class="s2072841SCL-000002"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072842Normal { 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.s2072842SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072842CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072842Normal-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.s2072842DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072842000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072842SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072842SCL-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="s2072842Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-5"><span class="s2072842SENU">55-10A-5</span></a><span xml:space="preserve" class="s2072842SENU">. </span><span class="s2072842CL">Transfer authorized by will or trust.</span></p><p dir="ltr" class="s2072842Normal-000000"><span xml:space="preserve" class="s2072842DefaultParagraphFont">Any personal representative or trustee may make an irrevocable transfer pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072842DefaultParagraphFont">55-10A-9</span></a><span xml:space="preserve" class="s2072842DefaultParagraphFont">, to a custodian for the benefit of a minor as authorized in the governing will or trust. If the testator or settlor has nominated a custodian under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-3"><span class="s2072842DefaultParagraphFont">55-10A-3</span></a><span xml:space="preserve" class="s2072842DefaultParagraphFont">, to receive the custodial property, the transfer must be made to that person. If the testator or settlor has not nominated a custodian under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-3"><span class="s2072842DefaultParagraphFont">55-10A-3</span></a><span xml:space="preserve" class="s2072842DefaultParagraphFont">, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072842DefaultParagraphFont">55-10A-9</span></a><span class="s2072842DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072842Normal"><span xml:space="preserve" class="s2072842000001"> </span></p><p dir="ltr" class="s2072842Normal"><span class="s2072842SCL">Source:</span><span xml:space="preserve" class="s2072842SCL-000002"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072843Normal { 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.s2072843SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072843CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072843Normal-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.s2072843DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072843Normal-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.s2072843000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072843SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072843SCL-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="s2072843Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-6"><span class="s2072843SENU">55-10A-6</span></a><span xml:space="preserve" class="s2072843SENU">. </span><span class="s2072843CL">Other transfer by fiduciary.</span></p><p dir="ltr" class="s2072843Normal-000000"><span class="s2072843DefaultParagraphFont">A transfer under subdivisions (1) or (2) may be made only if the personal representative, trustee or conservator considers the transfer to be in the best interest of the minor, the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement or other governing instrument and the transfer is authorized by the court if it exceeds ten thousand dollars in value; and:</span></p><p dir="ltr" class="s2072843Normal-000001"><span xml:space="preserve" class="s2072843DefaultParagraphFont">(1)    A personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072843DefaultParagraphFont">55-10A-9</span></a><span class="s2072843DefaultParagraphFont">, in the absence of a will or under a will or trust that does not contain an authorization to do so; or</span></p><p dir="ltr" class="s2072843Normal-000001"><span xml:space="preserve" class="s2072843DefaultParagraphFont">(2)    A conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072843DefaultParagraphFont">55-10A-9</span></a><span class="s2072843DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072843Normal"><span xml:space="preserve" class="s2072843000002"> </span></p><p dir="ltr" class="s2072843Normal"><span class="s2072843SCL">Source:</span><span xml:space="preserve" class="s2072843SCL-000003"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072844Normal { 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.s2072844SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072844CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072844Normal-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.s2072844DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072844Normal-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.s2072844000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072844SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072844SCL-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="s2072844Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-7"><span class="s2072844SENU">55-10A-7</span></a><span xml:space="preserve" class="s2072844SENU">. </span><span class="s2072844CL">Transfer by obligor.</span></p><p dir="ltr" class="s2072844Normal-000000"><span xml:space="preserve" class="s2072844DefaultParagraphFont">Subject to subdivisions (1) and (2), any person not subject to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-5"><span class="s2072844DefaultParagraphFont">55-10A-5</span></a><span xml:space="preserve" class="s2072844DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-6"><span class="s2072844DefaultParagraphFont">55-10A-6</span></a><span xml:space="preserve" class="s2072844DefaultParagraphFont">, who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072844DefaultParagraphFont">55-10A-9</span></a><span class="s2072844DefaultParagraphFont">:</span></p><p dir="ltr" class="s2072844Normal-000001"><span xml:space="preserve" class="s2072844DefaultParagraphFont">(1)    If a person having the right to do so under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-3"><span class="s2072844DefaultParagraphFont">55-10A-3</span></a><span class="s2072844DefaultParagraphFont">, has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person; or</span></p><p dir="ltr" class="s2072844Normal-000001"><span xml:space="preserve" class="s2072844DefaultParagraphFont">(2)    If no custodian has been nominated under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-3"><span class="s2072844DefaultParagraphFont">55-10A-3</span></a><span class="s2072844DefaultParagraphFont">, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer under this section may be made to an adult member of the minor's family or to a trust company unless the property exceeds ten thousand dollars in value.</span></p><p dir="ltr" class="s2072844Normal"><span xml:space="preserve" class="s2072844000002"> </span></p><p dir="ltr" class="s2072844Normal"><span class="s2072844SCL">Source:</span><span xml:space="preserve" class="s2072844SCL-000003"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072845Normal { 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.s2072845SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072845CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072845Normal-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.s2072845DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072845000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072845SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072845SCL-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="s2072845Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-8"><span class="s2072845SENU">55-10A-8</span></a><span xml:space="preserve" class="s2072845SENU">. </span><span class="s2072845CL">Receipt for custodial property.</span></p><p dir="ltr" class="s2072845Normal-000000"><span class="s2072845DefaultParagraphFont">A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to this chapter.</span></p><p dir="ltr" class="s2072845Normal"><span xml:space="preserve" class="s2072845000001"> </span></p><p dir="ltr" class="s2072845Normal"><span class="s2072845SCL">Source:</span><span xml:space="preserve" class="s2072845SCL-000002"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072846Normal { 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.s2072846SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072846CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072846Normal-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.s2072846DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072846Normal-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.s2072846Normal-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.s2072846000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072846SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072846SCL-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="s2072846Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072846SENU">55-10A-9</span></a><span xml:space="preserve" class="s2072846SENU">. </span><span class="s2072846CL">Manner of creating custodial property and effecting transfer.</span></p><p dir="ltr" class="s2072846Normal-000000"><span class="s2072846DefaultParagraphFont">Custodial property is created and a transfer is made if:</span></p><p dir="ltr" class="s2072846Normal-000001"><span class="s2072846DefaultParagraphFont">(1)    An uncertificated security or a certificated security in registered form is either:</span></p><p dir="ltr" class="s2072846Normal-000002"><span class="s2072846DefaultParagraphFont">(a)    registered in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for _________________________ (name of minor) under the South Dakota Uniform Transfers to Minors Act"; or</span></p><p dir="ltr" class="s2072846Normal-000002"><span xml:space="preserve" class="s2072846DefaultParagraphFont">(b)    delivered if in certificated form, or any document necessary for the transfer of an uncertificated security is delivered, together with any necessary endorsement to an adult other than the transferor or to a trust company as custodian, accompanied by an instrument in substantially the form set forth in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-10"><span class="s2072846DefaultParagraphFont">55-10A-10</span></a><span class="s2072846DefaultParagraphFont">;</span></p><p dir="ltr" class="s2072846Normal-000001"><span class="s2072846DefaultParagraphFont">(2)    Money is paid or delivered to a broker or financial institution for credit to an account in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for _________________________ (name of minor) under the South Dakota Uniform Transfers to Minors Act";</span></p><p dir="ltr" class="s2072846Normal-000001"><span class="s2072846DefaultParagraphFont">(3)    The ownership of a life or endowment insurance policy or annuity contract is either:</span></p><p dir="ltr" class="s2072846Normal-000002"><span class="s2072846DefaultParagraphFont">(a)    registered with the issuer in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for _________________________ (name of minor) under the South Dakota Uniform Transfers to Minors Act"; or</span></p><p dir="ltr" class="s2072846Normal-000002"><span class="s2072846DefaultParagraphFont">(b)    assigned in a writing delivered to an adult other than the transferor or to a trust company whose name in the assignment is followed in substance by the words: "as custodian for __________________________ (name of minor) under the South Dakota Uniform Transfers to Minors Act";</span></p><p dir="ltr" class="s2072846Normal-000001"><span class="s2072846DefaultParagraphFont">(4)    An irrevocable exercise of a power of appointment or an irrevocable present right to future payment under a contract is the subject of a written notification delivered to the payor, issuer or other obligor that the right is transferred to the transferor, an adult other than the transferor, or a trust company whose name in the notification is followed in substance by the words: "as custodian for _________________________ (name of minor) under the South Dakota Uniform Transfers to Minors Act";</span></p><p dir="ltr" class="s2072846Normal-000001"><span class="s2072846DefaultParagraphFont">(5)    An interest in real property is recorded in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for _________________________ (name of minor) under the South Dakota Uniform Transfers to Minors Act";</span></p><p dir="ltr" class="s2072846Normal-000001"><span class="s2072846DefaultParagraphFont">(6)    A certificate of title issued by a department or agency of a state or of the United States which evidences title to tangible personal property is either:</span></p><p dir="ltr" class="s2072846Normal-000002"><span class="s2072846DefaultParagraphFont">(a)    issued in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for _________________________ (name of minor) under the South Dakota Uniform Transfers to Minors Act"; or</span></p><p dir="ltr" class="s2072846Normal-000002"><span class="s2072846DefaultParagraphFont">(b)    delivered to an adult other than the transferor or to a trust company, endorsed to that person followed in substance by the words: "as custodian for _________________________ (name of minor) under the South Dakota Uniform Transfers to Minors Act"; or</span></p><p dir="ltr" class="s2072846Normal-000001"><span xml:space="preserve" class="s2072846DefaultParagraphFont">(7)    An interest in any property not described in subdivisions (1) through (6) is transferred to an adult other than the transferor or to a trust company by a written instrument in substantially the form set forth in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-10"><span class="s2072846DefaultParagraphFont">55-10A-10</span></a><span class="s2072846DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072846Normal"><span xml:space="preserve" class="s2072846000003"> </span></p><p dir="ltr" class="s2072846Normal"><span class="s2072846SCL">Source:</span><span xml:space="preserve" class="s2072846SCL-000004"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072847Normal { 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.s2072847SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072847CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072847Normal-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.s2072847DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072847Normal-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.s2072847000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072847SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072847SCL-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="s2072847Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-10"><span class="s2072847SENU">55-10A-10</span></a><span xml:space="preserve" class="s2072847SENU">. </span><span class="s2072847CL">Designation of initial custodian.</span></p><p dir="ltr" class="s2072847Normal-000000"><span class="s2072847DefaultParagraphFont">An instrument in the following form satisfies the requirements of subdivisions 55-10A-9(1)(a) and (7):</span></p><p dir="ltr" class="s2072847Normal"><span xml:space="preserve" class="s2072847DefaultParagraphFont">    TRANSFER UNDER THE SOUTH DAKOTA UNIFORM TRANSFERS TO</span></p><p dir="ltr" class="s2072847Normal"><span xml:space="preserve" class="s2072847DefaultParagraphFont">     MINORS ACT</span></p><p dir="ltr" class="s2072847Normal-000001"><span class="s2072847DefaultParagraphFont">I, ______________ (name of transferor or name and representative capacity if a fiduciary) hereby transfer to ______________ (name of custodian), as custodian for ______________ (name of minor) under the South Dakota Uniform Transfers to Minors Act, the following: (insert a description of the custodial property sufficient to identify it).</span></p><p dir="ltr" class="s2072847Normal"><span class="s2072847DefaultParagraphFont">Dated: __________________</span></p><p dir="ltr" class="s2072847Normal"><span class="s2072847DefaultParagraphFont">________________________</span></p><p dir="ltr" class="s2072847Normal"><span class="s2072847DefaultParagraphFont">(Signature)</span></p><p dir="ltr" class="s2072847Normal"><span class="s2072847DefaultParagraphFont">______________ (name of custodian) acknowledges receipt of the property described above as custodian for the minor named above under the (Name of Enacting State) Uniform Transfers to Minors Act.</span></p><p dir="ltr" class="s2072847Normal"><span class="s2072847DefaultParagraphFont">Dated: __________________</span></p><p dir="ltr" class="s2072847Normal"><span class="s2072847DefaultParagraphFont">________________________</span></p><p dir="ltr" class="s2072847Normal"><span class="s2072847DefaultParagraphFont">(Signature of Custodian)</span></p><p dir="ltr" class="s2072847Normal"><span xml:space="preserve" class="s2072847000002"> </span></p><p dir="ltr" class="s2072847Normal"><span class="s2072847SCL">Source:</span><span xml:space="preserve" class="s2072847SCL-000003"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072848Normal { 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.s2072848SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072848CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072848Normal-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.s2072848DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072848000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072848SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072848SCL-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="s2072848Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-11"><span class="s2072848SENU">55-10A-11</span></a><span xml:space="preserve" class="s2072848SENU">. </span><span class="s2072848CL">Control.</span></p><p dir="ltr" class="s2072848Normal-000000"><span class="s2072848DefaultParagraphFont">A transferor shall place the custodian in control of the custodial property as soon as practicable.</span></p><p dir="ltr" class="s2072848Normal"><span xml:space="preserve" class="s2072848000001"> </span></p><p dir="ltr" class="s2072848Normal"><span class="s2072848SCL">Source:</span><span xml:space="preserve" class="s2072848SCL-000002"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072849Normal { 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.s2072849SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072849CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072849Normal-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.s2072849DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072849000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072849SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072849SCL-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="s2072849Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-12"><span class="s2072849SENU">55-10A-12</span></a><span xml:space="preserve" class="s2072849SENU">. </span><span class="s2072849CL">Single custodianship.</span></p><p dir="ltr" class="s2072849Normal-000000"><span class="s2072849DefaultParagraphFont">A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship.</span></p><p dir="ltr" class="s2072849Normal"><span xml:space="preserve" class="s2072849000001"> </span></p><p dir="ltr" class="s2072849Normal"><span class="s2072849SCL">Source:</span><span xml:space="preserve" class="s2072849SCL-000002"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072850Normal { 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.s2072850SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072850CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072850Normal-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.s2072850DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072850Normal-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.s2072850Normal-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.s2072850000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072850SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072850SCL-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="s2072850Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-13"><span class="s2072850SENU">55-10A-13</span></a><span xml:space="preserve" class="s2072850SENU">. </span><span class="s2072850CL">Validity and effect of transfer.</span></p><p dir="ltr" class="s2072850Normal-000000"><span class="s2072850DefaultParagraphFont">The validity of a transfer made in a manner prescribed in this chapter is not affected by:</span></p><p dir="ltr" class="s2072850Normal-000001"><span xml:space="preserve" class="s2072850DefaultParagraphFont">(1)    Failure of the transferor to comply with § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-11"><span class="s2072850DefaultParagraphFont">55-10A-11</span></a><span xml:space="preserve" class="s2072850DefaultParagraphFont"> concerning possession and control;</span></p><p dir="ltr" class="s2072850Normal-000001"><span xml:space="preserve" class="s2072850DefaultParagraphFont">(2)    Designation of an ineligible custodian, except designation of the transferor in the case of property for which the transferor is ineligible to serve as custodian under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072850DefaultParagraphFont">55-10A-9</span></a><span class="s2072850DefaultParagraphFont">; or</span></p><p dir="ltr" class="s2072850Normal-000001"><span xml:space="preserve" class="s2072850DefaultParagraphFont">(3)    Death or incapacity of a person nominated under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-3"><span class="s2072850DefaultParagraphFont">55-10A-3</span></a><span xml:space="preserve" class="s2072850DefaultParagraphFont">, or designated under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072850DefaultParagraphFont">55-10A-9</span></a><span class="s2072850DefaultParagraphFont">, as custodian or the disclaimer of the office by that person.</span></p><p dir="ltr" class="s2072850Normal-000002"><span xml:space="preserve" class="s2072850DefaultParagraphFont">A transfer made pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072850DefaultParagraphFont">55-10A-9</span></a><span class="s2072850DefaultParagraphFont">, is irrevocable, and the custodial property is indefeasibly vested in the minor, but the custodian has all the rights, powers, duties and authority provided in this chapter and neither the minor nor the minor's legal representative has any right, power, duty or authority with respect to the custodial property except as provided in this chapter.</span></p><p dir="ltr" class="s2072850Normal-000002"><span class="s2072850DefaultParagraphFont">By making a transfer, the transferor incorporates in the disposition all the provisions of this chapter and grants to the custodian, and to any third person dealing with a person designated as custodian, the respective powers, rights and immunities provided in this chapter.</span></p><p dir="ltr" class="s2072850Normal"><span xml:space="preserve" class="s2072850000003"> </span></p><p dir="ltr" class="s2072850Normal"><span class="s2072850SCL">Source:</span><span xml:space="preserve" class="s2072850SCL-000004"> SL 1986, ch 409, § 13.</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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072851Normal { 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.s2072851SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072851CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072851Normal-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.s2072851DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072851Normal-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.s2072851000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072851SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072851SCL-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="s2072851Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-14"><span class="s2072851SENU">55-10A-14</span></a><span xml:space="preserve" class="s2072851SENU">. </span><span class="s2072851CL">Care of custodial property.</span></p><p dir="ltr" class="s2072851Normal-000000"><span class="s2072851DefaultParagraphFont">A custodian shall take control of custodial property, register or record title to custodial property if appropriate, and collect, hold, manage, invest and reinvest custodial property.</span></p><p dir="ltr" class="s2072851Normal-000001"><span class="s2072851DefaultParagraphFont">In dealing with custodial property, a custodian shall observe the standard of care that would be observed by a prudent person dealing with property of another and is not limited by any other statute restricting investments by fiduciaries. If a custodian has a special skill or expertise or is named custodian on the basis of representations of a special skill or expertise, the custodian shall use that skill or expertise. However, a custodian, in the custodian's discretion and without liability to the minor or the minor's estate, may retain any custodial property received from a transferor.</span></p><p dir="ltr" class="s2072851Normal-000001"><span class="s2072851DefaultParagraphFont">A custodian may invest in or pay premiums on life insurance or endowment policies on the life of the minor only if the minor or the minor's estate is the sole beneficiary, or the life of another person in whom the minor has an insurable interest only to the extent that the minor, the minor's estate, or the custodian in the capacity of custodian, is the irrevocable beneficiary.</span></p><p dir="ltr" class="s2072851Normal-000001"><span class="s2072851DefaultParagraphFont">A custodian at all times shall keep custodial property separate and distinct from all other property in a manner sufficient to identify it clearly as custodial property of the minor. Custodial property consisting of an undivided interest is so identified if the minor's interest is held as a tenant in common and is fixed. Custodial property subject to recordation is so identified if it is recorded, and custodial property subject to registration is so identified if it is either registered, or held in an account designated, in the name of the custodian, followed in substance by the words: "as a custodian for ___________________ (name of minor) under the South Dakota Uniform Transfers to Minors Act."</span></p><p dir="ltr" class="s2072851Normal-000001"><span class="s2072851DefaultParagraphFont">A custodian shall keep records of all transactions with respect to custodial property, including information necessary for the preparation of the minor's tax returns, and shall make them available for inspection at reasonable intervals by a parent or legal representative of the minor or by the minor if the minor has attained the age of fourteen years.</span></p><p dir="ltr" class="s2072851Normal"><span xml:space="preserve" class="s2072851000002"> </span></p><p dir="ltr" class="s2072851Normal"><span class="s2072851SCL">Source:</span><span xml:space="preserve" class="s2072851SCL-000003"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072852Normal { 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.s2072852SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072852CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072852Normal-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.s2072852DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072852Normal-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.s2072852000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072852SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072852SCL-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="s2072852Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-15"><span class="s2072852SENU">55-10A-15</span></a><span xml:space="preserve" class="s2072852SENU">. </span><span class="s2072852CL">Powers of custodian.</span></p><p dir="ltr" class="s2072852Normal-000000"><span xml:space="preserve" class="s2072852DefaultParagraphFont">A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers, and authority in that capacity only. This section does not relieve a custodian from liability for breach of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-14"><span class="s2072852DefaultParagraphFont">55-10A-14</span></a><span class="s2072852DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072852Normal-000001"><span class="s2072852DefaultParagraphFont">At any time, a custodian may transfer part or all of a custodial property to a qualified minor's trust without a court order. Such transfer terminates the custodianship to the extent of the transfer.</span></p><p dir="ltr" class="s2072852Normal"><span xml:space="preserve" class="s2072852000002"> </span></p><p dir="ltr" class="s2072852Normal"><span class="s2072852SCL">Source:</span><span xml:space="preserve" class="s2072852SCL-000003"> SL 1986, ch 409, § 15; SL 2008, ch 257, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072853Normal { 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.s2072853SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072853CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072853Normal-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.s2072853DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072853000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072853SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072853SCL-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="s2072853Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-16"><span class="s2072853SENU">55-10A-16</span></a><span xml:space="preserve" class="s2072853SENU">. </span><span class="s2072853CL">Use of custodial property.</span></p><p dir="ltr" class="s2072853Normal-000000"><span class="s2072853DefaultParagraphFont">A custodian may deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to the duty or ability of the custodian personally or of any other person to support the minor, or any other income or property of the minor which may be applicable or available for that purpose. On petition of an interested person or the minor if the minor has attained the age of fourteen years, the court may order the custodian to deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the court considers advisable for the use and benefit of the minor. A delivery, payment or expenditure under this section is in addition to, not in substitution for, and does not affect any obligation of a person to support the minor.</span></p><p dir="ltr" class="s2072853Normal"><span xml:space="preserve" class="s2072853000001"> </span></p><p dir="ltr" class="s2072853Normal"><span class="s2072853SCL">Source:</span><span xml:space="preserve" class="s2072853SCL-000002"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072854Normal { 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.s2072854SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072854CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072854Normal-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.s2072854DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072854000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072854SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072854SCL-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="s2072854Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-17"><span class="s2072854SENU">55-10A-17</span></a><span xml:space="preserve" class="s2072854SENU">. </span><span class="s2072854CL">Custodian's expenses, compensation, and bond.</span></p><p dir="ltr" class="s2072854Normal-000000"><span xml:space="preserve" class="s2072854DefaultParagraphFont">A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties. Except for one who is a transferor under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-4"><span class="s2072854DefaultParagraphFont">55-10A-4</span></a><span xml:space="preserve" class="s2072854DefaultParagraphFont">, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year. Except as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-20"><span class="s2072854DefaultParagraphFont">55-10A-20</span></a><span class="s2072854DefaultParagraphFont">, a custodian need not give a bond.</span></p><p dir="ltr" class="s2072854Normal"><span xml:space="preserve" class="s2072854000001"> </span></p><p dir="ltr" class="s2072854Normal"><span class="s2072854SCL">Source:</span><span xml:space="preserve" class="s2072854SCL-000002"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072855Normal { 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.s2072855SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072855CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072855Normal-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.s2072855DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072855Normal-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.s2072855000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072855SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072855SCL-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="s2072855Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-18"><span class="s2072855SENU">55-10A-18</span></a><span xml:space="preserve" class="s2072855SENU">. </span><span class="s2072855CL">Exemption of third person from liability.</span></p><p dir="ltr" class="s2072855Normal-000000"><span class="s2072855DefaultParagraphFont">A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining:</span></p><p dir="ltr" class="s2072855Normal-000001"><span class="s2072855DefaultParagraphFont">(1)    The validity of the purported custodian's designation;</span></p><p dir="ltr" class="s2072855Normal-000001"><span class="s2072855DefaultParagraphFont">(2)    The propriety of, or the authority under this chapter for, any act of the purported custodian;</span></p><p dir="ltr" class="s2072855Normal-000001"><span class="s2072855DefaultParagraphFont">(3)    The validity or propriety under this chapter of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or</span></p><p dir="ltr" class="s2072855Normal-000001"><span class="s2072855DefaultParagraphFont">(4)    The propriety of the application of any property of the minor delivered to the purported custodian.</span></p><p dir="ltr" class="s2072855Normal"><span xml:space="preserve" class="s2072855000002"> </span></p><p dir="ltr" class="s2072855Normal"><span class="s2072855SCL">Source:</span><span xml:space="preserve" class="s2072855SCL-000003"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072856Normal { 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.s2072856SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072856CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072856Normal-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.s2072856DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072856Normal-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.s2072856Normal-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.s2072856000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072856SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072856SCL-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="s2072856Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-19"><span class="s2072856SENU">55-10A-19</span></a><span xml:space="preserve" class="s2072856SENU">. </span><span class="s2072856CL">Liability to third persons.</span></p><p dir="ltr" class="s2072856Normal-000000"><span class="s2072856DefaultParagraphFont">A claim based on a contract entered into by a custodian acting in a custodial capacity, an obligation arising from the ownership or control of custodial property, or a tort committed during the custodianship, may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable therefor.</span></p><p dir="ltr" class="s2072856Normal-000001"><span class="s2072856DefaultParagraphFont">No custodian is personally liable:</span></p><p dir="ltr" class="s2072856Normal-000002"><span class="s2072856DefaultParagraphFont">(1)    On a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and to identify the custodianship in the contract; or</span></p><p dir="ltr" class="s2072856Normal-000002"><span class="s2072856DefaultParagraphFont">(2)    For an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault.</span></p><p dir="ltr" class="s2072856Normal-000001"><span class="s2072856DefaultParagraphFont">No minor is personally liable for an obligation arising from ownership of custodial property or for a tort committed during the custodianship unless the minor is personally at fault.</span></p><p dir="ltr" class="s2072856Normal"><span xml:space="preserve" class="s2072856000003"> </span></p><p dir="ltr" class="s2072856Normal"><span class="s2072856SCL">Source:</span><span xml:space="preserve" class="s2072856SCL-000004"> SL 1986, ch 409, § 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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072857Normal { 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.s2072857SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072857CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072857Normal-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.s2072857DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072857Normal-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.s2072857000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072857SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072857SCL-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="s2072857Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-20"><span class="s2072857SENU">55-10A-20</span></a><span xml:space="preserve" class="s2072857SENU">. </span><span class="s2072857CL">Renunciation, resignation, death, or removal of custodian--Designation of successor custodian.</span></p><p dir="ltr" class="s2072857Normal-000000"><span xml:space="preserve" class="s2072857DefaultParagraphFont">Any person nominated under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-3"><span class="s2072857DefaultParagraphFont">55-10A-3</span></a><span xml:space="preserve" class="s2072857DefaultParagraphFont"> or designated under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072857DefaultParagraphFont">55-10A-9</span></a><span xml:space="preserve" class="s2072857DefaultParagraphFont"> as custodian may decline to serve by delivering a valid disclaimer to the person who made the nomination or to the transferor or the transferor's legal representative. If the event giving rise to a transfer has not occurred and no substitute custodian able, willing and eligible to serve was nominated under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-3"><span class="s2072857DefaultParagraphFont">55-10A-3</span></a><span xml:space="preserve" class="s2072857DefaultParagraphFont">, the person who made the nomination may nominate a substitute custodian under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-3"><span class="s2072857DefaultParagraphFont">55-10A-3</span></a><span xml:space="preserve" class="s2072857DefaultParagraphFont">; otherwise the transferor or the transferor's legal representative shall designate a substitute custodian at the time of the transfer, in either case from among the persons eligible to serve as custodian for that kind of property under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-9"><span class="s2072857DefaultParagraphFont">55-10A-9</span></a><span class="s2072857DefaultParagraphFont">. The custodian so designated has the rights of a successor custodian.</span></p><p dir="ltr" class="s2072857Normal-000001"><span xml:space="preserve" class="s2072857DefaultParagraphFont">A custodian at any time may designate a trust company or an adult other than a transferor under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-4"><span class="s2072857DefaultParagraphFont">55-10A-4</span></a><span class="s2072857DefaultParagraphFont">, as successor custodian by executing and dating an instrument of designation before a subscribing witness other than the successor. If the instrument of designation does not contain or is not accompanied by the resignation of the custodian, the designation of the successor does not take effect until the custodian resigns, dies, becomes incapacitated or is removed.</span></p><p dir="ltr" class="s2072857Normal-000001"><span class="s2072857DefaultParagraphFont">A custodian may resign at any time by delivering written notice to the minor if the minor has attained the age of fourteen years and to the successor custodian and by delivering the custodial property to the successor custodian.</span></p><p dir="ltr" class="s2072857Normal-000001"><span class="s2072857DefaultParagraphFont">If a custodian is ineligible, dies or becomes incapacitated without having effectively designated a successor and the minor has attained the age of fourteen years, the minor may designate as successor custodian an adult member of the minor's family, a conservator of the minor or a trust company. If the minor has not attained the age of fourteen years or fails to act within sixty days after the ineligibility, death or incapacity, the conservator of the minor becomes successor custodian. If the minor has no conservator or the conservator declines to act, the transferor, the legal representative of the transferor or of the custodian, an adult member of the minor's family or any other interested person may petition the court to designate a successor custodian.</span></p><p dir="ltr" class="s2072857Normal-000001"><span class="s2072857DefaultParagraphFont">A custodian who declines to serve or resigns, or the legal representative of a deceased or incapacitated custodian, as soon as practicable, shall put the custodial property and records in the possession and control of the successor custodian. The successor custodian by action may enforce the obligation to deliver custodial property and records and becomes responsible for each item as received.</span></p><p dir="ltr" class="s2072857Normal-000001"><span xml:space="preserve" class="s2072857DefaultParagraphFont">A transferor, the legal representative of a transferor, an adult member of the minor's family, a guardian of the person of the minor, the conservator of the minor, or the minor if the minor has attained the age of fourteen years may petition the court to remove the custodian for cause and to designate a successor custodian other than a transferor under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-4"><span class="s2072857DefaultParagraphFont">55-10A-4</span></a><span class="s2072857DefaultParagraphFont">, or to require the custodian to give appropriate bond.</span></p><p dir="ltr" class="s2072857Normal"><span xml:space="preserve" class="s2072857000002"> </span></p><p dir="ltr" class="s2072857Normal"><span class="s2072857SCL">Source:</span><span xml:space="preserve" class="s2072857SCL-000003"> SL 1986, ch 409, § 20.</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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072858Normal { 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.s2072858SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072858CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072858Normal-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.s2072858DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072858Normal-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.s2072858000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072858SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072858SCL-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="s2072858Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-21"><span class="s2072858SENU">55-10A-21</span></a><span xml:space="preserve" class="s2072858SENU">. </span><span class="s2072858CL">Accounting by and determination of liability of custodian.</span></p><p dir="ltr" class="s2072858Normal-000000"><span xml:space="preserve" class="s2072858DefaultParagraphFont">A minor who has attained the age of fourteen years, the minor's guardian conservator, or other legal representative, an adult member of the minor's family, a transferor, or a transferor's legal representative may petition the court for an accounting by the custodian or the custodian's legal representative; or for a determination of responsibility, as between the custodial property and the custodian personally, for claims against the custodial property unless the responsibility has been adjudicated in an action under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-18"><span class="s2072858DefaultParagraphFont">55-10A-18</span></a><span class="s2072858DefaultParagraphFont">, to which the minor or the minor's legal representative was a party.</span></p><p dir="ltr" class="s2072858Normal-000001"><span class="s2072858DefaultParagraphFont">A successor custodian may petition the court for an accounting by the predecessor custodian.</span></p><p dir="ltr" class="s2072858Normal-000001"><span class="s2072858DefaultParagraphFont">The court, in a proceeding under this chapter or in any other proceeding, may require or permit the custodian or the custodian's legal representative to account.</span></p><p dir="ltr" class="s2072858Normal-000001"><span xml:space="preserve" class="s2072858DefaultParagraphFont">If a custodian is removed under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-20"><span class="s2072858DefaultParagraphFont">55-10A-20</span></a><span class="s2072858DefaultParagraphFont">, the court shall require an accounting and order delivery of the custodial property and records to the successor custodian and the execution of all instruments required for transfer of the custodial property.</span></p><p dir="ltr" class="s2072858Normal"><span xml:space="preserve" class="s2072858000002"> </span></p><p dir="ltr" class="s2072858Normal"><span class="s2072858SCL">Source:</span><span xml:space="preserve" class="s2072858SCL-000003"> SL 1986, ch 409, § 21; SL 1993, ch 213, § 257.</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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072859Normal { 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.s2072859SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072859CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072859Normal-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.s2072859DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072859Normal-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.s2072859000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072859SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072859SCL-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="s2072859Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-22"><span class="s2072859SENU">55-10A-22</span></a><span xml:space="preserve" class="s2072859SENU">. </span><span class="s2072859CL">Termination of custodianship.</span></p><p dir="ltr" class="s2072859Normal-000000"><span class="s2072859DefaultParagraphFont">The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of:</span></p><p dir="ltr" class="s2072859Normal-000001"><span xml:space="preserve" class="s2072859DefaultParagraphFont">(1)    The minor's attainment of eighteen years of age with respect to custodial property transferred under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-4"><span class="s2072859DefaultParagraphFont">55-10A-4</span></a><span xml:space="preserve" class="s2072859DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-5"><span class="s2072859DefaultParagraphFont">55-10A-5</span></a><span xml:space="preserve" class="s2072859DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-6"><span class="s2072859DefaultParagraphFont">55-10A-6</span></a><span xml:space="preserve" class="s2072859DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-7"><span class="s2072859DefaultParagraphFont">55-10A-7</span></a><span class="s2072859DefaultParagraphFont">; or</span></p><p dir="ltr" class="s2072859Normal-000001"><span class="s2072859DefaultParagraphFont">(2)    The minor's death.</span></p><p dir="ltr" class="s2072859Normal"><span xml:space="preserve" class="s2072859000002"> </span></p><p dir="ltr" class="s2072859Normal"><span class="s2072859SCL">Source:</span><span xml:space="preserve" class="s2072859SCL-000003"> SL 1986, ch 409, § 22.</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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072860Normal { 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.s2072860SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072860CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072860Normal-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.s2072860DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072860Normal-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.s2072860000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072860SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072860SCL-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="s2072860Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-23"><span class="s2072860SENU">55-10A-23</span></a><span xml:space="preserve" class="s2072860SENU">. </span><span class="s2072860CL">Applicability.</span></p><p dir="ltr" class="s2072860Normal-000000"><span xml:space="preserve" class="s2072860DefaultParagraphFont">This chapter applies to a transfer within the scope of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-2"><span class="s2072860DefaultParagraphFont">55-10A-2</span></a><span xml:space="preserve" class="s2072860DefaultParagraphFont"> made after July 1, 1986 if:</span></p><p dir="ltr" class="s2072860Normal-000001"><span class="s2072860DefaultParagraphFont">(1)    The transfer purports to have been made under the Uniform Gifts to Minors Act of South Dakota; or</span></p><p dir="ltr" class="s2072860Normal-000001"><span class="s2072860DefaultParagraphFont">(2)    The instrument by which the transfer purports to have been made uses in substance the designation "as custodian under the Uniform Gifts to Minors Act" or "as custodian under the Uniform Transfers to Minors Act" of any other state, and the application of this chapter is necessary to validate the transfer.</span></p><p dir="ltr" class="s2072860Normal"><span xml:space="preserve" class="s2072860000002"> </span></p><p dir="ltr" class="s2072860Normal"><span class="s2072860SCL">Source:</span><span xml:space="preserve" class="s2072860SCL-000003"> SL 1986, ch 409, § 23.</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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072861Normal { 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.s2072861SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072861CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072861Normal-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.s2072861DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072861Normal-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.s2072861000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072861SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072861SCL-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="s2072861Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-24"><span class="s2072861SENU">55-10A-24</span></a><span xml:space="preserve" class="s2072861SENU">. </span><span class="s2072861CL">Effect on existing custodianships.</span></p><p dir="ltr" class="s2072861Normal-000000"><span class="s2072861DefaultParagraphFont">Any transfer of custodial property as now defined in this chapter made before July 1, 1986 is validated notwithstanding that there was no specific authority in the Uniform Gifts to Minors Act of South Dakota for the coverage of custodial property of that kind or for a transfer from that source at the time the transfer was made.</span></p><p dir="ltr" class="s2072861Normal-000001"><span class="s2072861DefaultParagraphFont">This chapter applies to all transfers made before July 1, 1986 in a manner and form prescribed in the Uniform Gifts to Minors Act, except insofar as the application impairs constitutionally vested rights or extends the duration of custodianships in existence on July 1, 1986.</span></p><p dir="ltr" class="s2072861Normal-000001"><span xml:space="preserve" class="s2072861DefaultParagraphFont">Sections </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-1"><span class="s2072861DefaultParagraphFont">55-10A-1</span></a><span xml:space="preserve" class="s2072861DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-22"><span class="s2072861DefaultParagraphFont">55-10A-22</span></a><span class="s2072861DefaultParagraphFont">, with respect to the age of a minor for whom custodial property is held under this chapter do not apply to custodial property held in a custodianship that terminated because of the minor's attainment of the age of eighteen after July 1, 1968, and before July 1, 1986.</span></p><p dir="ltr" class="s2072861Normal"><span xml:space="preserve" class="s2072861000002"> </span></p><p dir="ltr" class="s2072861Normal"><span class="s2072861SCL">Source:</span><span xml:space="preserve" class="s2072861SCL-000003"> SL 1986, ch 409, § 24.</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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072862Normal { 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.s2072862SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072862CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072862Normal-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.s2072862DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072862000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072862SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072862SCL-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="s2072862Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-25"><span class="s2072862SENU">55-10A-25</span></a><span xml:space="preserve" class="s2072862SENU">. </span><span class="s2072862CL">Short title.</span></p><p dir="ltr" class="s2072862Normal-000000"><span class="s2072862DefaultParagraphFont">This chapter may be cited as the "South Dakota Uniform Transfers to Minors Act."</span></p><p dir="ltr" class="s2072862Normal"><span xml:space="preserve" class="s2072862000001"> </span></p><p dir="ltr" class="s2072862Normal"><span class="s2072862SCL">Source:</span><span xml:space="preserve" class="s2072862SCL-000002"> SL 1986, ch 409, § 25.</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 55-10A - UNIFORM TRANSFERS TO MINORS ACT </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072863Normal { 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.s2072863SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072863CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072863Normal-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.s2072863DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072863000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072863SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072863SCL-000002 { 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="s2072863Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-26"><span class="s2072863SENU">55-10A-26</span></a><span xml:space="preserve" class="s2072863SENU">. </span><span class="s2072863CL">Repeal of the Gifts to Minors Act.</span></p><p dir="ltr" class="s2072863Normal-000000"><span xml:space="preserve" class="s2072863DefaultParagraphFont">Chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10"><span class="s2072863DefaultParagraphFont">55-10</span></a><span xml:space="preserve" class="s2072863DefaultParagraphFont"> is hereby repealed. To the extent that this chapter, by virtue of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-10A-24"><span class="s2072863DefaultParagraphFont">55-10A-24</span></a><span class="s2072863DefaultParagraphFont">, does not apply to transfers made in a manner prescribed in the Gifts to Minors Act of South Dakota or to the powers, duties and immunities conferred by transfers in that manner upon custodians and person dealing with custodians, the repeal of the Gifts to Minors Act of South Dakota does not affect those transfers or those powers, duties and immunities.</span></p><p dir="ltr" class="s2072863Normal"><span xml:space="preserve" class="s2072863000001"> </span></p><p dir="ltr" class="s2072863Normal"><span class="s2072863SCL">Source:</span><span xml:space="preserve" class="s2072863SCL-000002"> SL 1986, ch 409, § 26.</span></p></div></body></html>