<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 55-18-20 - Limitations on representation of settlor--Limitations on settlor's authority to bind beneficiary. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073043Normal { 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.s2073043SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073043CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073043Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; 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font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2073043Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-18-20"><span class="s2073043SENU">55-18-20</span></a><span xml:space="preserve" class="s2073043SENU">. </span><span class="s2073043CL">Limitations on representation of settlor--Limitations on settlor's authority to bind beneficiary.</span></p><p dir="ltr" class="s2073043Normal-000000"><span class="s2073043DefaultParagraphFont">A settlor may be represented by a representative in amending, terminating, or revoking an inter vivos revocable trust only when the representative is:</span></p><p dir="ltr" class="s2073043Normal-000001"><span class="s2073043DefaultParagraphFont">(1)    An agent under a written power of attorney when the settlor is incapacitated or not reasonably available and to the extent expressly authorized by the power of attorney with specific reference to the trust and expressly authorized by the terms of the governing instrument; or</span></p><p dir="ltr" class="s2073043Normal-000001"><span xml:space="preserve" class="s2073043DefaultParagraphFont">(2)    A conservator only to the extent authorized or approved by order of the court pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=29A-5-420"><span class="s2073043DefaultParagraphFont">29A-5-420</span></a><span xml:space="preserve" class="s2073043DefaultParagraphFont"> or equivalent provisions of another jurisdiction's laws.</span></p><p dir="ltr" class="s2073043Normal-000002"><span class="s2073043DefaultParagraphFont">In other respects, a settlor may be represented by a representative only pursuant to subdivisions 55-18-9(5), (11), (16), and (17) and pursuant to subdivision 55-18-9(1) to the extent authorized or approved by the court.</span></p><p dir="ltr" class="s2073043Normal-000002"><span xml:space="preserve" class="s2073043DefaultParagraphFont">A settlor may not bind a beneficiary with respect to a trust termination pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-3-24"><span class="s2073043DefaultParagraphFont">55-3-24</span></a><span xml:space="preserve" class="s2073043DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-3-30"><span class="s2073043DefaultParagraphFont">55-3-30</span></a><span xml:space="preserve" class="s2073043DefaultParagraphFont"> or a trust modification pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-3-24"><span class="s2073043DefaultParagraphFont">55-3-24</span></a><span xml:space="preserve" class="s2073043DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-3-30"><span class="s2073043DefaultParagraphFont">55-3-30</span></a><span xml:space="preserve" class="s2073043DefaultParagraphFont"> where the ability to bind the beneficiary to the proposed trust modification would constitute a retained interest pursuant to 26 U.S.C. § 2036, as of January 1, 2017, or a revocable transfer pursuant to 26 U.S.C. § 2038 as of January 1, 2017.</span></p><p dir="ltr" class="s2073043Normal"><span xml:space="preserve" class="s2073043000003"> </span></p><p dir="ltr" class="s2073043Normal"><span class="s2073043SCL">Source:</span><span xml:space="preserve" class="s2073043SCL-000004"> SL 2017, ch 208, § 20; SL 2018, ch 275, § 39.</span></p></div></body></html>