<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sb1323a6bec3f45158238c20edfbfd021Normal { text-align: center; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.sb1323a6bec3f45158238c20edfbfd021HG4 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sb1323a6bec3f45158238c20edfbfd021HG4C { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sb1323a6bec3f45158238c20edfbfd021Normal-000000 { 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.sb1323a6bec3f45158238c20edfbfd021000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sb1323a6bec3f45158238c20edfbfd021B { margin-left: 1.38in; text-indent: -1.38in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 55-1A - TRUSTEES' POWERS"><meta property="og:description" content="SDLRC Codified Law 55-1A - TRUSTEES' POWERS"><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=55-1A"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021Normal"><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021HG4">CHAPTER </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1A" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A</span></a></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021Normal"><span class="sb1323a6bec3f45158238c20edfbfd021HG4C">TRUSTEES' POWERS</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021Normal-000000"><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021000001"> </span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-1" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-1</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Powers enumerated in chapter apply to any trust unless specifically excluded--Powers as additional to common law powers.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-2" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-2</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Trustee defined.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-3" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-3</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-3" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-3</span></a><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">, 55-1A-4. Repealed by SL 2002, ch 100, §§ 11, 12</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-4.1" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-4.1</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-4.1" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-4.1</span></a><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">. Repealed by SL 2002, ch 100, § 13</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-5" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-5</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Retention of trust property by trustee.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-6" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-6</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Additions to trust assets.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-7" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-7</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Operation of business by trustee.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-8" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-8</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Acquisition of undivided interest in trust asset.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-9" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-9</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Investment of trust assets.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-9.1" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-9.1</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Affiliated investments.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-10" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-10</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Deposit of trust funds in bank.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-11" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-11</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Disposal of trust assets.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-12" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-12</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Grant or taking of option for disposition of assets.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-13" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-13</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Leases by trustees.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-14" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-14</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Repairs by trustee--Removal or demolition.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-15" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-15</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Razing or erection of party walls or buildings.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-16" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-16</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Land development or dedication--Valuation adjustments.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-17" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-17</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Mineral and natural resource leases and explorations.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-18" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-18</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Insurance.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-19" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-19</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Voting stock or securities--Voting trust agreements.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-20" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-20</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Payment of calls, assessments, and other sums charged against corporate securities.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-21" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-21</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Corporate powers--Stocks--Reorganizations and mergers--Sales and leases.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-22" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-22</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Holding stock in nominee's name without disclosing fiduciary relationship.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-23" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-23</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Borrowing money against trust assets.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-24" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-24</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Contracts binding upon trust.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-25" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-25</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Claims in favor of or against trust or trustee.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-26" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-26</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Release of claim or lien.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-27" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-27</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Payment of trust administration expenses.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-28" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-28</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Creation of reserves.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-29" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-29</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Payment of sum distributable to minor or other beneficiary under legal disability--Methods.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-30" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-30</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Distribution of property and money.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-31" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-31</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Employment of agents and assistants.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-32" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-32</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Prosecution or defense of actions and proceedings.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-32.1" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-32.1</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Trustee immunity from liability for failure to prosecute, defend, or continue to defend.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-33" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-33</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Advance of income or loan to beneficiary--Lien.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-34" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-34</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Advance of money for protection of trust--Lien.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-35" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-35</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Execution and delivery of instruments.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-35.1" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-35.1</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Electronic execution of documents.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-36" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-36</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Holding of two or more trusts with undivided interests.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-37" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-37</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Citation of chapter.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-38" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-38</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Trustee may perform necessary and appropriate acts.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-39" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-39</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Disclaimer of powers by trustee--Time limit.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-40" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-40</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Trust name change.</span></p><p dir="ltr" class="sb1323a6bec3f45158238c20edfbfd021B"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-41" rel="noopener"><span class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">55-1A-41</span></a><span xml:space="preserve" class="sb1323a6bec3f45158238c20edfbfd021DefaultParagraphFont">    Co-trustee appointment--Powers.</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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072575Normal { 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.s2072575SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072575CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072575Normal-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.s2072575DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072575000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072575SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072575SCL-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="s2072575Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-1"><span class="s2072575SENU">55-1A-1</span></a><span xml:space="preserve" class="s2072575SENU">. </span><span class="s2072575CL">Powers enumerated in chapter apply to any trust unless specifically excluded--Powers as additional to common law powers.</span></p><p dir="ltr" class="s2072575Normal-000000"><span class="s2072575DefaultParagraphFont">Any or all of the powers enumerated in this chapter apply to any trust which is governed by South Dakota law unless the instrument specifically excludes any or all of the powers provided in this chapter. Further, this chapter applies without regard to the date of execution or whether such trust was created by will or inter vivos trust instrument. These powers shall be in addition to, and not in limitation of, all other common law or statutory powers of a trustee. Such powers are applicable to a trustee authorized to administer a trust estate established or to be established pursuant to the terms of a will or other written instrument, with the same effect, and subject to the same judicial interpretation and control in appropriate cases, as though such language were set forth verbatim in the instrument.</span></p><p dir="ltr" class="s2072575Normal"><span xml:space="preserve" class="s2072575000001"> </span></p><p dir="ltr" class="s2072575Normal"><span class="s2072575SCL">Source:</span><span xml:space="preserve" class="s2072575SCL-000002"> SL 1979, ch 336, § 2; SL 2002, ch 100, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072576Normal { 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.s2072576SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072576CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072576Normal-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.s2072576DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072576000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072576SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072576SCL-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="s2072576Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-2"><span class="s2072576SENU">55-1A-2</span></a><span xml:space="preserve" class="s2072576SENU">. </span><span class="s2072576CL">Trustee defined.</span></p><p dir="ltr" class="s2072576Normal-000000"><span class="s2072576DefaultParagraphFont">As used in this chapter, the word, trustee, means any natural or legal person or persons acting as an original, substitute, added, or successor trustee of a testamentary or inter vivos trust, whichever in a particular case is appropriate.</span></p><p dir="ltr" class="s2072576Normal"><span xml:space="preserve" class="s2072576000001"> </span></p><p dir="ltr" class="s2072576Normal"><span class="s2072576SCL">Source:</span><span xml:space="preserve" class="s2072576SCL-000002"> SL 1979, ch 336, § 1.</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1A - TRUSTEES' POWERS55-1A-3 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 55-1A-3 "> <META NAME="Description" Content="South Dakota Codified Laws 55-1A-3"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 55-1A-3, 55-1A-4. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2002, ch 100, &#167;&#167;&nbsp;11, 12<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1A - TRUSTEES' POWERS55-1A-4.1 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 55-1A-4.1 "> <META NAME="Description" Content="South Dakota Codified Laws 55-1A-4.1"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 55-1A-4.1. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2002, ch 100, &#167;&nbsp;13<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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072579Normal { 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.s2072579SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072579CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072579Normal-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.s2072579DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072579000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072579SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072579SCL-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="s2072579Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-5"><span class="s2072579SENU">55-1A-5</span></a><span xml:space="preserve" class="s2072579SENU">. </span><span class="s2072579CL">Retention of trust property by trustee.</span></p><p dir="ltr" class="s2072579Normal-000000"><span class="s2072579DefaultParagraphFont">A trustee may collect, hold, and retain trust assets until, in his judgment, disposition of the assets should be made, without regard to any effect the retention may have upon the diversification of the trust estate. Trust property may be retained even though it includes an asset in which its trustee is personally interested.</span></p><p dir="ltr" class="s2072579Normal"><span xml:space="preserve" class="s2072579000001"> </span></p><p dir="ltr" class="s2072579Normal"><span class="s2072579SCL">Source:</span><span xml:space="preserve" class="s2072579SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072580Normal { 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.s2072580SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072580CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072580Normal-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.s2072580DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072580000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072580SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072580SCL-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="s2072580Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-6"><span class="s2072580SENU">55-1A-6</span></a><span xml:space="preserve" class="s2072580SENU">. </span><span class="s2072580CL">Additions to trust assets.</span></p><p dir="ltr" class="s2072580Normal-000000"><span class="s2072580DefaultParagraphFont">A trustee may receive additions to the assets of his trust from any source.</span></p><p dir="ltr" class="s2072580Normal"><span xml:space="preserve" class="s2072580000001"> </span></p><p dir="ltr" class="s2072580Normal"><span class="s2072580SCL">Source:</span><span xml:space="preserve" class="s2072580SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072581Normal { 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.s2072581SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072581CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072581Normal-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.s2072581DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072581000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072581SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072581SCL-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="s2072581Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-7"><span class="s2072581SENU">55-1A-7</span></a><span xml:space="preserve" class="s2072581SENU">. </span><span class="s2072581CL">Operation of business by trustee.</span></p><p dir="ltr" class="s2072581Normal-000000"><span class="s2072581DefaultParagraphFont">A trustee may continue or participate in the operation of any business or other enterprise, and effect the incorporation, dissolution, or other change in the form of the organization of the business or enterprise.</span></p><p dir="ltr" class="s2072581Normal"><span xml:space="preserve" class="s2072581000001"> </span></p><p dir="ltr" class="s2072581Normal"><span class="s2072581SCL">Source:</span><span xml:space="preserve" class="s2072581SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072582Normal { 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.s2072582SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072582CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072582Normal-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.s2072582DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072582000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072582SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072582SCL-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="s2072582Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-8"><span class="s2072582SENU">55-1A-8</span></a><span xml:space="preserve" class="s2072582SENU">. </span><span class="s2072582CL">Acquisition of undivided interest in trust asset.</span></p><p dir="ltr" class="s2072582Normal-000000"><span class="s2072582DefaultParagraphFont">A trustee may acquire an undivided interest in a trust asset in which he, in any trust capacity, holds an undivided interest.</span></p><p dir="ltr" class="s2072582Normal"><span xml:space="preserve" class="s2072582000001"> </span></p><p dir="ltr" class="s2072582Normal"><span class="s2072582SCL">Source:</span><span xml:space="preserve" class="s2072582SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072583Normal { 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.s2072583SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072583CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072583Normal-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.s2072583DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072583000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072583SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072583SCL-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="s2072583Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-9"><span class="s2072583SENU">55-1A-9</span></a><span xml:space="preserve" class="s2072583SENU">. </span><span class="s2072583CL">Investment of trust assets.</span></p><p dir="ltr" class="s2072583Normal-000000"><span xml:space="preserve" class="s2072583DefaultParagraphFont">A trustee may invest and reinvest trust assets in any property or in an undivided interest in any property, wherever located, including bonds, debentures, secured or unsecured notes, preferred or common stock of corporations, real estate or improvements thereon or any interest therein, oil and mineral leases or royalty or similar interests, and interests in trusts including investment trusts and common trust funds maintained by a corporate trustee and any affiliated investments as defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-9.1"><span class="s2072583DefaultParagraphFont">55-1A-9.1</span></a><span class="s2072583DefaultParagraphFont">. Any such investments may be made, regardless of any lack of diversification.</span></p><p dir="ltr" class="s2072583Normal"><span xml:space="preserve" class="s2072583000001"> </span></p><p dir="ltr" class="s2072583Normal"><span class="s2072583SCL">Source:</span><span xml:space="preserve" class="s2072583SCL-000002"> SL 1979, ch 336, § 9; SL 1993, ch 354; SL 2007, ch 247, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072584Normal { 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.s2072584SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072584CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072584Normal-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.s2072584DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072584Normal-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; } p.s2072584Normal-000002 { 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.s2072584000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072584SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072584SCL-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="s2072584Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-9.1"><span class="s2072584SENU">55-1A-9.1</span></a><span xml:space="preserve" class="s2072584SENU">. </span><span class="s2072584CL">Affiliated investments.</span></p><p dir="ltr" class="s2072584Normal-000000"><span class="s2072584DefaultParagraphFont">(a) As used in this section:</span></p><p dir="ltr" class="s2072584Normal-000001"><span class="s2072584DefaultParagraphFont">(1)    "Investment" means any security as defined in § 2(a)(1) of the Securities Act of 1933, any contract of sale of a commodity for future delivery within the meaning of § 2(I) of the Commodity Exchange Act, or any other asset permitted for trustee accounts pursuant to the terms of this title or by the terms of the governing instrument, including by way of illustration and not limitation, individual portfolios of investment holdings, shares or interests in a private investment fund (including a private investment fund organized as a limited partnership, limited liability company, trust or other form, a statutory or common law business trust, or a real estate investment trust), joint venture or other general or limited partnership, or an open-end or closed-end management type investment company or investment trust registered, unregistered, or exempt from registration under the Investment Company Act of 1940;</span></p><p dir="ltr" class="s2072584Normal-000001"><span class="s2072584DefaultParagraphFont">(2)    "Affiliate" means any corporation or other entity that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with the trustee;</span></p><p dir="ltr" class="s2072584Normal-000001"><span class="s2072584DefaultParagraphFont">(3)    "Affiliated investment" means an investment for which the trustee or an affiliate of the trustee acts as investment adviser, sponsor, administrator, distributor, placement agent, underwriter, broker, custodian, transfer agent, registrar or in any other capacity for which it receives or has received a fee or commission from such investment or an investment acquired or disposed of in a transaction for which the trustee or an affiliate of the trustee receives or has received a fee or commission;</span></p><p dir="ltr" class="s2072584Normal-000001"><span class="s2072584DefaultParagraphFont">(4)    "Fee or commission" means compensation paid to a trustee or an affiliate thereof on account of its services to or on behalf of an investment, including by way of illustration and not limitation, advisory fees, management fees, brokerage fees, service fees, special performance fees, profit allocations, and expense reimbursements.</span></p><p dir="ltr" class="s2072584Normal-000002"><span class="s2072584DefaultParagraphFont">(b) In the absence of an express prohibition in the trust instrument, a trustee may purchase, sell, hold or otherwise deal with an affiliate or an interest in an affiliated investment and, upon satisfaction of the conditions stated in subsection (c) of this section, such trustee may receive trustee compensation from such account at the same rate as the trustee would otherwise be entitled to be compensated.</span></p><p dir="ltr" class="s2072584Normal-000002"><span xml:space="preserve" class="s2072584DefaultParagraphFont">(c) A trustee seeking compensation pursuant to subsection (b) of this section shall disclose to those beneficiaries, as defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-2-13"><span class="s2072584DefaultParagraphFont">55-2-13</span></a><span class="s2072584DefaultParagraphFont">, all fees, commissions, compensation or other benefits and profits paid or to be paid by the account, or received or to be received by an affiliate arising from such affiliated investment. The disclosure required under this subsection may be given either in a copy of the prospectus or any other disclosure document prepared for the affiliated investment under federal or state securities laws or in a written summary that includes all fees, commissions, compensation or other benefits and profits received or to be received by the trustee or any affiliate of the trustee and an explanation of the manner in which such fees, commissions, compensation or other benefits and profits are calculated (either as a percentage of the assets invested or by some other method). Such disclosure shall be made at least annually unless there has been no increase in the rate at which such fees or commissions are calculated since the most recent disclosure. Notwithstanding the foregoing provisions of this subsection, no such disclosure is required if:</span></p><p dir="ltr" class="s2072584Normal-000001"><span class="s2072584DefaultParagraphFont">(i)    The governing instrument or a court order expressly authorizes the trustee to invest the trust account in affiliated investments or otherwise deal with an affiliate or an interest in an affiliated investment; or</span></p><p dir="ltr" class="s2072584Normal-000001"><span xml:space="preserve" class="s2072584DefaultParagraphFont">(ii)    The directed trustee is acting at the direction of an investment trust advisor pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1B"><span class="s2072584DefaultParagraphFont">55-1B</span></a><span class="s2072584DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072584Normal-000001"><span xml:space="preserve" class="s2072584000003"> </span></p></div><div><p dir="ltr" class="s2072584Normal-000002"><span class="s2072584DefaultParagraphFont">(d) A trustee that has complied with subsection (c) of this section (whether by making the applicable disclosure or by relying on the terms of a governing instrument or court order) shall have full authority to administer an affiliated investment (including the authority to vote proxies thereon) without regard to the affiliation between the trustee and the investment.</span></p><p dir="ltr" class="s2072584Normal-000002"><span xml:space="preserve" class="s2072584DefaultParagraphFont">(e) If the recipients of information regarding the trust's existence have been restricted, eliminated, or modified pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-2-13"><span class="s2072584DefaultParagraphFont">55-2-13</span></a><span class="s2072584DefaultParagraphFont">, then the notification described in subsection (c) is subject to such restriction, modification, or elimination.</span></p><p dir="ltr" class="s2072584Normal"><span xml:space="preserve" class="s2072584000003"> </span></p><p dir="ltr" class="s2072584Normal"><span class="s2072584SCL">Source:</span><span xml:space="preserve" class="s2072584SCL-000004"> SL 2007, ch 247, § 7; SL 2009, ch 252, § 12; SL 2014, ch 226, § 19; SL 2015, ch 240, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072585Normal { 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.s2072585SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072585CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072585Normal-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.s2072585DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072585000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072585SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072585SCL-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="s2072585Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-10"><span class="s2072585SENU">55-1A-10</span></a><span xml:space="preserve" class="s2072585SENU">. </span><span class="s2072585CL">Deposit of trust funds in bank.</span></p><p dir="ltr" class="s2072585Normal-000000"><span class="s2072585DefaultParagraphFont">A trustee may deposit trust funds in a bank, including a bank operated by himself, or in a state or federal savings and loan association.</span></p><p dir="ltr" class="s2072585Normal"><span xml:space="preserve" class="s2072585000001"> </span></p><p dir="ltr" class="s2072585Normal"><span class="s2072585SCL">Source:</span><span xml:space="preserve" class="s2072585SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072586Normal { 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.s2072586SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072586CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072586Normal-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.s2072586DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072586000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072586SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072586SCL-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="s2072586Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-11"><span class="s2072586SENU">55-1A-11</span></a><span xml:space="preserve" class="s2072586SENU">. </span><span class="s2072586CL">Disposal of trust assets.</span></p><p dir="ltr" class="s2072586Normal-000000"><span class="s2072586DefaultParagraphFont">A trustee may acquire, sell, or otherwise dispose of an asset, at public or private sale, for cash or on credit, with or without security as he deems advisable, and he may manage, develop, exchange, partition, change the character of, or abandon a trust asset or any interest therein.</span></p><p dir="ltr" class="s2072586Normal"><span xml:space="preserve" class="s2072586000001"> </span></p><p dir="ltr" class="s2072586Normal"><span class="s2072586SCL">Source:</span><span xml:space="preserve" class="s2072586SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072587Normal { 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.s2072587SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072587CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072587Normal-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.s2072587DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072587000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072587SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072587SCL-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="s2072587Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-12"><span class="s2072587SENU">55-1A-12</span></a><span xml:space="preserve" class="s2072587SENU">. </span><span class="s2072587CL">Grant or taking of option for disposition of assets.</span></p><p dir="ltr" class="s2072587Normal-000000"><span class="s2072587DefaultParagraphFont">A trustee may grant an option for the sale or other disposition of a trust asset, or take an option for the acquisition of any asset.</span></p><p dir="ltr" class="s2072587Normal"><span xml:space="preserve" class="s2072587000001"> </span></p><p dir="ltr" class="s2072587Normal"><span class="s2072587SCL">Source:</span><span xml:space="preserve" class="s2072587SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072588Normal { 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.s2072588SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072588CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072588Normal-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.s2072588DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072588000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072588SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072588SCL-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="s2072588Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-13"><span class="s2072588SENU">55-1A-13</span></a><span xml:space="preserve" class="s2072588SENU">. </span><span class="s2072588CL">Leases by trustees.</span></p><p dir="ltr" class="s2072588Normal-000000"><span class="s2072588DefaultParagraphFont">A trustee may enter into a lease as lessor or lessee, with or without an option to purchase or renew, even if the term of the lease or renewal thereof, or of the option, extends beyond the term of the trust.</span></p><p dir="ltr" class="s2072588Normal"><span xml:space="preserve" class="s2072588000001"> </span></p><p dir="ltr" class="s2072588Normal"><span class="s2072588SCL">Source:</span><span xml:space="preserve" class="s2072588SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072589Normal { 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.s2072589SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072589CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072589Normal-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.s2072589DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072589000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072589SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072589SCL-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="s2072589Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-14"><span class="s2072589SENU">55-1A-14</span></a><span xml:space="preserve" class="s2072589SENU">. </span><span class="s2072589CL">Repairs by trustee--Removal or demolition.</span></p><p dir="ltr" class="s2072589Normal-000000"><span class="s2072589DefaultParagraphFont">A trustee may make ordinary or extraordinary repairs, improvements, or alterations in buildings or other structures or in any other trust asset, and he may remove or demolish any improvements.</span></p><p dir="ltr" class="s2072589Normal"><span xml:space="preserve" class="s2072589000001"> </span></p><p dir="ltr" class="s2072589Normal"><span class="s2072589SCL">Source:</span><span xml:space="preserve" class="s2072589SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072590Normal { 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.s2072590SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072590CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072590Normal-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.s2072590DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072590000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072590SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072590SCL-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="s2072590Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-15"><span class="s2072590SENU">55-1A-15</span></a><span xml:space="preserve" class="s2072590SENU">. </span><span class="s2072590CL">Razing or erection of party walls or buildings.</span></p><p dir="ltr" class="s2072590Normal-000000"><span class="s2072590DefaultParagraphFont">A trustee may raze existing, or erect new, party walls or buildings, alone or jointly with owners of adjacent property.</span></p><p dir="ltr" class="s2072590Normal"><span xml:space="preserve" class="s2072590000001"> </span></p><p dir="ltr" class="s2072590Normal"><span class="s2072590SCL">Source:</span><span xml:space="preserve" class="s2072590SCL-000002"> SL 1979, ch 336, § 15.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072591Normal { 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.s2072591SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072591CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072591Normal-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.s2072591DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072591000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072591SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072591SCL-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="s2072591Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-16"><span class="s2072591SENU">55-1A-16</span></a><span xml:space="preserve" class="s2072591SENU">. </span><span class="s2072591CL">Land development or dedication--Valuation adjustments.</span></p><p dir="ltr" class="s2072591Normal-000000"><span class="s2072591DefaultParagraphFont">A trustee may subdivide, develop or dedicate land to public use; make or obtain the vacation of plats and adjust boundaries; adjust differences in valuation on the exchange or partition of land by giving or receiving consideration; or dedicate easements to public use without consideration.</span></p><p dir="ltr" class="s2072591Normal"><span xml:space="preserve" class="s2072591000001"> </span></p><p dir="ltr" class="s2072591Normal"><span class="s2072591SCL">Source:</span><span xml:space="preserve" class="s2072591SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072592Normal { 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.s2072592SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072592CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072592Normal-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.s2072592DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072592000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072592SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072592SCL-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="s2072592Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-17"><span class="s2072592SENU">55-1A-17</span></a><span xml:space="preserve" class="s2072592SENU">. </span><span class="s2072592CL">Mineral and natural resource leases and explorations.</span></p><p dir="ltr" class="s2072592Normal-000000"><span class="s2072592DefaultParagraphFont">A trustee may enter into a lease or arrangement for the exploration for and removal of oil, gas and other minerals or other natural resources, and he may enter into pooling and unitization agreements.</span></p><p dir="ltr" class="s2072592Normal"><span xml:space="preserve" class="s2072592000001"> </span></p><p dir="ltr" class="s2072592Normal"><span class="s2072592SCL">Source:</span><span xml:space="preserve" class="s2072592SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072593Normal { 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.s2072593SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072593CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072593Normal-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.s2072593DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072593000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072593SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072593SCL-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="s2072593Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-18"><span class="s2072593SENU">55-1A-18</span></a><span xml:space="preserve" class="s2072593SENU">. </span><span class="s2072593CL">Insurance.</span></p><p dir="ltr" class="s2072593Normal-000000"><span class="s2072593DefaultParagraphFont">A trustee may insure the assets of his trust against damage or loss, and the trustee against liability to third persons.</span></p><p dir="ltr" class="s2072593Normal"><span xml:space="preserve" class="s2072593000001"> </span></p><p dir="ltr" class="s2072593Normal"><span class="s2072593SCL">Source:</span><span xml:space="preserve" class="s2072593SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072594Normal { 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.s2072594SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072594CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072594Normal-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.s2072594DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072594000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072594SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072594SCL-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="s2072594Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-19"><span class="s2072594SENU">55-1A-19</span></a><span xml:space="preserve" class="s2072594SENU">. </span><span class="s2072594CL">Voting stock or securities--Voting trust agreements.</span></p><p dir="ltr" class="s2072594Normal-000000"><span class="s2072594DefaultParagraphFont">A trustee may vote shares of stock or other securities held in trust, in person or by general or limited proxy, and he may enter into voting trust agreements on such terms and for such periods as he deems advisable.</span></p><p dir="ltr" class="s2072594Normal"><span xml:space="preserve" class="s2072594000001"> </span></p><p dir="ltr" class="s2072594Normal"><span class="s2072594SCL">Source:</span><span xml:space="preserve" class="s2072594SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072595Normal { 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.s2072595SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072595CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072595Normal-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.s2072595DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072595000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072595SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072595SCL-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="s2072595Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-20"><span class="s2072595SENU">55-1A-20</span></a><span xml:space="preserve" class="s2072595SENU">. </span><span class="s2072595CL">Payment of calls, assessments, and other sums charged against corporate securities.</span></p><p dir="ltr" class="s2072595Normal-000000"><span class="s2072595DefaultParagraphFont">A trustee may pay calls, assessments, and any other sums chargeable or accruing against or on account of shares of stock, bonds, debentures, or other corporate securities held in trust.</span></p><p dir="ltr" class="s2072595Normal"><span xml:space="preserve" class="s2072595000001"> </span></p><p dir="ltr" class="s2072595Normal"><span class="s2072595SCL">Source:</span><span xml:space="preserve" class="s2072595SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072596Normal { 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.s2072596SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072596CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072596Normal-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.s2072596DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072596000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072596SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072596SCL-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="s2072596Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-21"><span class="s2072596SENU">55-1A-21</span></a><span xml:space="preserve" class="s2072596SENU">. </span><span class="s2072596CL">Corporate powers--Stocks--Reorganizations and mergers--Sales and leases.</span></p><p dir="ltr" class="s2072596Normal-000000"><span class="s2072596DefaultParagraphFont">A trustee may sell or exercise stock subscription or conversion rights; participate in foreclosures, reorganizations, consolidations, mergers or liquidations; and consent, directly or through a committee or other agent, to corporate sales, leases and encumbrances. In the exercise of such powers a trustee may, where he deems such course to be expedient, deposit stocks, bonds or other securities with any protective or other similar committee, under such terms and conditions respecting the deposit thereof as the trustee may approve.</span></p><p dir="ltr" class="s2072596Normal"><span xml:space="preserve" class="s2072596000001"> </span></p><p dir="ltr" class="s2072596Normal"><span class="s2072596SCL">Source:</span><span xml:space="preserve" class="s2072596SCL-000002"> SL 1979, ch 336, § 21.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072597Normal { 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.s2072597SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072597CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072597Normal-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.s2072597DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072597000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072597SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072597SCL-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="s2072597Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-22"><span class="s2072597SENU">55-1A-22</span></a><span xml:space="preserve" class="s2072597SENU">. </span><span class="s2072597CL">Holding stock in nominee's name without disclosing fiduciary relationship.</span></p><p dir="ltr" class="s2072597Normal-000000"><span class="s2072597DefaultParagraphFont">A trustee may hold any stock or other security in the name of a nominee or nominees, without disclosure of any fiduciary relationship, but he shall be liable for any and all acts and omissions of the nominee relating to such assets.</span></p><p dir="ltr" class="s2072597Normal"><span xml:space="preserve" class="s2072597000001"> </span></p><p dir="ltr" class="s2072597Normal"><span class="s2072597SCL">Source:</span><span xml:space="preserve" class="s2072597SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072598Normal { 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.s2072598SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072598CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072598Normal-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.s2072598DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072598000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072598SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072598SCL-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="s2072598Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-23"><span class="s2072598SENU">55-1A-23</span></a><span xml:space="preserve" class="s2072598SENU">. </span><span class="s2072598CL">Borrowing money against trust assets.</span></p><p dir="ltr" class="s2072598Normal-000000"><span class="s2072598DefaultParagraphFont">A trustee may borrow money, and mortgage or otherwise encumber or pledge trust assets, for a term within or extending beyond the term of his trust, in connection with the exercise of any power vested in himself.</span></p><p dir="ltr" class="s2072598Normal"><span xml:space="preserve" class="s2072598000001"> </span></p><p dir="ltr" class="s2072598Normal"><span class="s2072598SCL">Source:</span><span xml:space="preserve" class="s2072598SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072599Normal { 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.s2072599SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072599CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072599Normal-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.s2072599DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072599000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072599SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072599SCL-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="s2072599Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-24"><span class="s2072599SENU">55-1A-24</span></a><span xml:space="preserve" class="s2072599SENU">. </span><span class="s2072599CL">Contracts binding upon trust.</span></p><p dir="ltr" class="s2072599Normal-000000"><span class="s2072599DefaultParagraphFont">A trustee may enter into contracts binding upon his trust which are reasonably incident to the administration of the trust and which he believes to be for the best interests of the trust.</span></p><p dir="ltr" class="s2072599Normal"><span xml:space="preserve" class="s2072599000001"> </span></p><p dir="ltr" class="s2072599Normal"><span class="s2072599SCL">Source:</span><span xml:space="preserve" class="s2072599SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072600Normal { 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.s2072600SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072600CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072600Normal-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.s2072600DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072600000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072600SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072600SCL-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="s2072600Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-25"><span class="s2072600SENU">55-1A-25</span></a><span xml:space="preserve" class="s2072600SENU">. </span><span class="s2072600CL">Claims in favor of or against trust or trustee.</span></p><p dir="ltr" class="s2072600Normal-000000"><span class="s2072600DefaultParagraphFont">A trustee may pay, compromise, contest, submit to arbitration, or otherwise settle any and all claims in favor of or against his trust or himself as trustee.</span></p><p dir="ltr" class="s2072600Normal"><span xml:space="preserve" class="s2072600000001"> </span></p><p dir="ltr" class="s2072600Normal"><span class="s2072600SCL">Source:</span><span xml:space="preserve" class="s2072600SCL-000002"> SL 1979, ch 336, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072601Normal { 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.s2072601SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072601CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072601Normal-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.s2072601DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072601000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072601SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072601SCL-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="s2072601Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-26"><span class="s2072601SENU">55-1A-26</span></a><span xml:space="preserve" class="s2072601SENU">. </span><span class="s2072601CL">Release of claim or lien.</span></p><p dir="ltr" class="s2072601Normal-000000"><span class="s2072601DefaultParagraphFont">A trustee may release, in whole or in part, any claim or lien belonging to his trust.</span></p><p dir="ltr" class="s2072601Normal"><span xml:space="preserve" class="s2072601000001"> </span></p><p dir="ltr" class="s2072601Normal"><span class="s2072601SCL">Source:</span><span xml:space="preserve" class="s2072601SCL-000002"> SL 1979, ch 336, § 26.</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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072602Normal { 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.s2072602SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072602CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072602Normal-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.s2072602DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072602000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072602SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072602SCL-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="s2072602Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-27"><span class="s2072602SENU">55-1A-27</span></a><span xml:space="preserve" class="s2072602SENU">. </span><span class="s2072602CL">Payment of trust administration expenses.</span></p><p dir="ltr" class="s2072602Normal-000000"><span class="s2072602DefaultParagraphFont">A trustee may pay taxes, assessments, compensation of himself, and other expenses incurred in the collection, care, administration and protection of his trust.</span></p><p dir="ltr" class="s2072602Normal"><span xml:space="preserve" class="s2072602000001"> </span></p><p dir="ltr" class="s2072602Normal"><span class="s2072602SCL">Source:</span><span xml:space="preserve" class="s2072602SCL-000002"> SL 1979, ch 336, § 27.</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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072603Normal { 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.s2072603SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072603CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072603Normal-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.s2072603DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072603000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072603SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072603SCL-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="s2072603Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-28"><span class="s2072603SENU">55-1A-28</span></a><span xml:space="preserve" class="s2072603SENU">. </span><span class="s2072603CL">Creation of reserves.</span></p><p dir="ltr" class="s2072603Normal-000000"><span class="s2072603DefaultParagraphFont">A trustee may create reserves out of income for depreciation, obsolescence, or amortization, or for the depletion of mineral or timber properties.</span></p><p dir="ltr" class="s2072603Normal"><span xml:space="preserve" class="s2072603000001"> </span></p><p dir="ltr" class="s2072603Normal"><span class="s2072603SCL">Source:</span><span xml:space="preserve" class="s2072603SCL-000002"> SL 1979, ch 336, § 28.</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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072604Normal { 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.s2072604SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072604CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072604Normal-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.s2072604DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072604Normal-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.s2072604000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072604SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072604SCL-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="s2072604Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-29"><span class="s2072604SENU">55-1A-29</span></a><span xml:space="preserve" class="s2072604SENU">. </span><span class="s2072604CL">Payment of sum distributable to minor or other beneficiary under legal disability--Methods.</span></p><p dir="ltr" class="s2072604Normal-000000"><span class="s2072604DefaultParagraphFont">A trustee may make payment of any sum distributable to a minor or other beneficiary under legal disability, without liability to himself, by paying the sum in any one or more of the following ways:</span></p><p dir="ltr" class="s2072604Normal-000001"><span class="s2072604DefaultParagraphFont">(1)    Directly to the beneficiary;</span></p><p dir="ltr" class="s2072604Normal-000001"><span class="s2072604DefaultParagraphFont">(2)    To the conservator of the beneficiary;</span></p><p dir="ltr" class="s2072604Normal-000001"><span class="s2072604DefaultParagraphFont">(3)    Directly for the maintenance, education and general welfare of the beneficiary;</span></p><p dir="ltr" class="s2072604Normal-000001"><span class="s2072604DefaultParagraphFont">(4)    To a parent of the beneficiary; or</span></p><p dir="ltr" class="s2072604Normal-000001"><span class="s2072604DefaultParagraphFont">(5)    To anyone who has custody and care of the person of the beneficiary.</span></p><p dir="ltr" class="s2072604Normal"><span xml:space="preserve" class="s2072604000002"> </span></p><p dir="ltr" class="s2072604Normal"><span class="s2072604SCL">Source:</span><span xml:space="preserve" class="s2072604SCL-000003"> SL 1979, ch 336, § 29; SL 1993, ch 213, § 253.</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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072605Normal { 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.s2072605SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072605CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072605Normal-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.s2072605DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072605000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072605SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072605SCL-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="s2072605Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-30"><span class="s2072605SENU">55-1A-30</span></a><span xml:space="preserve" class="s2072605SENU">. </span><span class="s2072605CL">Distribution of property and money.</span></p><p dir="ltr" class="s2072605Normal-000000"><span class="s2072605DefaultParagraphFont">A trustee may effect distribution of property and money in divided or undivided interests, and adjust the resulting differences in valuation.</span></p><p dir="ltr" class="s2072605Normal"><span xml:space="preserve" class="s2072605000001"> </span></p><p dir="ltr" class="s2072605Normal"><span class="s2072605SCL">Source:</span><span xml:space="preserve" class="s2072605SCL-000002"> SL 1979, ch 336, § 30.</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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072606Normal { 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.s2072606SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072606CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072606Normal-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.s2072606DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072606000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072606SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072606SCL-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="s2072606Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-31"><span class="s2072606SENU">55-1A-31</span></a><span xml:space="preserve" class="s2072606SENU">. </span><span class="s2072606CL">Employment of agents and assistants.</span></p><p dir="ltr" class="s2072606Normal-000000"><span class="s2072606DefaultParagraphFont">A trustee may employ attorneys, accountants, investment advisors, agents or other persons, even if they are associated with himself, to advise or assist himself in the performance of his duties; act without independent investigation upon their recommendations; and instead of acting personally, employ one or more agents to perform any act of administration, whether or not such act is discretionary.</span></p><p dir="ltr" class="s2072606Normal"><span xml:space="preserve" class="s2072606000001"> </span></p><p dir="ltr" class="s2072606Normal"><span class="s2072606SCL">Source:</span><span xml:space="preserve" class="s2072606SCL-000002"> SL 1979, ch 336, § 31.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2083050Normal { 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.s2083050SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083050CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083050Statute { 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.s2083050DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083050StatuteNumber1 { 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.s2083050000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083050NoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2083050DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083050SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 55-1A-32 - Prosecution or defense of actions and proceedings."><meta property="og:description" content="SDLRC Codified Law 55-1A-32 - Prosecution or defense of actions and proceedings."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=55-1A-32"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s2083050Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-32" rel="noopener"><span class="s2083050SENU">55-1A-32</span></a><span xml:space="preserve" class="s2083050SENU">. </span><span xml:space="preserve" class="s2083050CL">Prosecution or defense of actions and proceedings. </span></p><p dir="ltr" class="s2083050Statute"><span class="s2083050DefaultParagraphFont">A trustee may prosecute or defend actions, claims or proceedings for the protection of trust assets or of the trustee in the performance of the trustee's duties. However, a trustee has no duty to prosecute, or to defend or continue to defend the trust or its assets in any action, through exercise of judicial process or otherwise, to reach the assets of the trust in satisfaction of a claim against the trust, a beneficiary or the settlor of a trust unless:</span></p><p dir="ltr" class="s2083050StatuteNumber1"><span class="s2083050DefaultParagraphFont">(1)    The trustee is reasonably satisfied that the readily marketable assets of the trust are sufficient to fully indemnify the trustee for all the liabilities and expenses, including professional fees and expense of counsel, accountants, and expert witnesses, that the trustee may incur in so prosecuting or defending the trust or its assets; or</span></p><p dir="ltr" class="s2083050StatuteNumber1"><span class="s2083050DefaultParagraphFont">(2)    If the trustee is not satisfied that the settlor or the beneficiaries have provided the trustee with indemnity, supported with such security as may be satisfactory to the trustee in its sole discretion, as is then and will be sufficient to fully indemnify the trustee.</span></p><p dir="ltr" class="s2083050Statute"><span class="s2083050DefaultParagraphFont">Unless otherwise provided in the trust agreement, a trustee who is no longer serving due to resignation or removal, whether by judicial process or pursuant to the trust agreement, or as a result of the trust terminating, does not have a duty to defend or continue to prosecute or defend the trust or its assets in any action, whether the trust is in existence or not at the time of such action.</span></p><p dir="ltr" class="s2083050Normal"><span xml:space="preserve" class="s2083050000000"> </span></p><p dir="ltr" class="s2083050NoIndent"><span xml:space="preserve" class="s2083050DefaultParagraphFont-000001">Source: </span><span class="s2083050SCL">SL 1979, ch 336, § 32; SL 2017, ch 204, § 13; SL 2021, ch 207, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072608Normal { 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.s2072608SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072608CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072608Normal-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.s2072608DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072608Normal-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.s2072608Normal-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.s2072608000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072608SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072608SCL-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="s2072608Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-32.1"><span class="s2072608SENU">55-1A-32.1</span></a><span xml:space="preserve" class="s2072608SENU">. </span><span class="s2072608CL">Trustee immunity from liability for failure to prosecute, defend, or continue to defend.</span></p><p dir="ltr" class="s2072608Normal-000000"><span class="s2072608DefaultParagraphFont">If the trustee fails to prosecute, defend, or continue to defend the trust or its assets because the conditions set forth in subdivision 55-1A-32(1) or (2) have not been fulfilled, the trustee is not liable for any such failure even if the failure, including without limitation a withdrawal from a proceeding, may result in the granting or awarding of relief against the trustee or the trust, including without limitation a distribution of trust assets in satisfaction of a claim.</span></p><p dir="ltr" class="s2072608Normal-000001"><span xml:space="preserve" class="s2072608DefaultParagraphFont">For purposes of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A"><span class="s2072608DefaultParagraphFont">55-1A</span></a><span class="s2072608DefaultParagraphFont">, the term, prosecute, or, defend or continue to defend, means:</span></p><p dir="ltr" class="s2072608Normal-000002"><span class="s2072608DefaultParagraphFont">(1)    Instituting, participating in, intervening in or defending a lawsuit, action in equity or administrative, arbitration or mediation proceeding (collectively a proceeding); or</span></p><p dir="ltr" class="s2072608Normal-000002"><span class="s2072608DefaultParagraphFont">(2)    Taking any other action to resist such claim.</span></p><p dir="ltr" class="s2072608Normal-000001"><span xml:space="preserve" class="s2072608DefaultParagraphFont">This section and § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-32"><span class="s2072608DefaultParagraphFont">55-1A-32</span></a><span xml:space="preserve" class="s2072608DefaultParagraphFont"> control unless the governing instrument specifically provides otherwise.</span></p><p dir="ltr" class="s2072608Normal"><span xml:space="preserve" class="s2072608000003"> </span></p><p dir="ltr" class="s2072608Normal"><span class="s2072608SCL">Source:</span><span xml:space="preserve" class="s2072608SCL-000004"> SL 2017, ch 204, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072609Normal { 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.s2072609SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072609CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072609Normal-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.s2072609DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072609000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072609SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072609SCL-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="s2072609Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-33"><span class="s2072609SENU">55-1A-33</span></a><span xml:space="preserve" class="s2072609SENU">. </span><span class="s2072609CL">Advance of income or loan to beneficiary--Lien.</span></p><p dir="ltr" class="s2072609Normal-000000"><span class="s2072609DefaultParagraphFont">A trustee may advance income or make loans out of trust property to a beneficiary on terms and conditions the trustee considers to be fair and reasonable under the circumstances, for which such advance or loan the trustee shall have a lien on the future benefits of such beneficiary.</span></p><p dir="ltr" class="s2072609Normal"><span xml:space="preserve" class="s2072609000001"> </span></p><p dir="ltr" class="s2072609Normal"><span class="s2072609SCL">Source:</span><span xml:space="preserve" class="s2072609SCL-000002"> SL 1979, ch 336, § 33; SL 2011, ch 212, § 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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072610Normal { 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.s2072610SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072610CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072610Normal-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.s2072610DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072610000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072610SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072610SCL-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="s2072610Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-34"><span class="s2072610SENU">55-1A-34</span></a><span xml:space="preserve" class="s2072610SENU">. </span><span class="s2072610CL">Advance of money for protection of trust--Lien.</span></p><p dir="ltr" class="s2072610Normal-000000"><span class="s2072610DefaultParagraphFont">A trustee may advance money for the protection of his trust or its assets, and for all expenses and liabilities sustained or incurred in or about the administration or protection of the trust, or because of the holding or ownership of any trust assets. Such trustee shall have a lien on the trust assets and may reimburse himself, with interest, out of the trust assets for the advances.</span></p><p dir="ltr" class="s2072610Normal"><span xml:space="preserve" class="s2072610000001"> </span></p><p dir="ltr" class="s2072610Normal"><span class="s2072610SCL">Source:</span><span xml:space="preserve" class="s2072610SCL-000002"> SL 1979, ch 336, § 34.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072611Normal { 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.s2072611SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072611CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072611Normal-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.s2072611DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072611000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072611SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072611SCL-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="s2072611Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-35"><span class="s2072611SENU">55-1A-35</span></a><span xml:space="preserve" class="s2072611SENU">. </span><span class="s2072611CL">Execution and delivery of instruments.</span></p><p dir="ltr" class="s2072611Normal-000000"><span class="s2072611DefaultParagraphFont">A trustee may execute and deliver all instruments which will accomplish or facilitate the exercise of the powers vested in himself.</span></p><p dir="ltr" class="s2072611Normal"><span xml:space="preserve" class="s2072611000001"> </span></p><p dir="ltr" class="s2072611Normal"><span class="s2072611SCL">Source:</span><span xml:space="preserve" class="s2072611SCL-000002"> SL 1979, ch 336, § 35.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2079543Normal { 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.s2079543SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079543CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2079543Statute { 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.s2079543DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2079543StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2079543000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2079543NoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2079543DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079543SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 55-1A-35.1 - Electronic execution of documents."><meta property="og:description" content="SDLRC Codified Law 55-1A-35.1 - Electronic execution of documents."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/55-1A-35.1"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s2079543Normal"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-35.1" rel="noopener"><span class="s2079543SENU">55-1A-35.1</span></a><span xml:space="preserve" class="s2079543SENU">. </span><span class="s2079543CL">Electronic execution of documents.</span></p><p dir="ltr" class="s2079543Statute"><span xml:space="preserve" class="s2079543DefaultParagraphFont">If otherwise validly executed, the following documents may be executed in accordance with chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=53-12" rel="noopener"><span class="s2079543DefaultParagraphFont">53-12</span></a><span class="s2079543DefaultParagraphFont">:</span></p><p dir="ltr" class="s2079543StatuteNumber1"><span class="s2079543DefaultParagraphFont">(1)    The governing instrument of an express trust, or other document, other than a will or codicil as defined in title 29A;</span></p><p dir="ltr" class="s2079543StatuteNumber1"><span class="s2079543DefaultParagraphFont">(2)    The resignation, removal, appointment, or acceptance of appointment of any trustee, any advisor or protector, or of any designated representation addressed in title 55;</span></p><p dir="ltr" class="s2079543StatuteNumber1"><span class="s2079543DefaultParagraphFont">(3)    A consent, release, ratification, or indemnification addressed in title 55; and</span></p><p dir="ltr" class="s2079543StatuteNumber1"><span xml:space="preserve" class="s2079543DefaultParagraphFont">(4)    Any other document addressed by title 55 to the extent it is not excluded from the scope of chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=53-12" rel="noopener"><span class="s2079543DefaultParagraphFont">53-12</span></a><span class="s2079543DefaultParagraphFont">.</span></p><p dir="ltr" class="s2079543Statute"><span xml:space="preserve" class="s2079543DefaultParagraphFont">Notwithstanding any provision of chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=53-12" rel="noopener"><span class="s2079543DefaultParagraphFont">53-12</span></a><span xml:space="preserve" class="s2079543DefaultParagraphFont"> to the contrary, the documents under this section are deemed to be a transaction within the meaning of subdivision </span><a href="https://sdlegislature.gov/Statutes?Statute=53-12" rel="noopener"><span class="s2079543DefaultParagraphFont">53-12</span></a><span xml:space="preserve" class="s2079543DefaultParagraphFont">-1(17) and are within the scope of chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=53-12" rel="noopener"><span class="s2079543DefaultParagraphFont">53-12</span></a><span class="s2079543DefaultParagraphFont">.</span></p><p dir="ltr" class="s2079543Normal"><span xml:space="preserve" class="s2079543000000"> </span></p><p dir="ltr" class="s2079543NoIndent"><span xml:space="preserve" class="s2079543DefaultParagraphFont-000001">Source: </span><span class="s2079543SCL">SL 2023, ch 161, § 5.</span></p></div></body></html> <html> <head> <style> p.effectiveDate {text-indent: 0; text-align: left; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 100%; margin-top: 2em; margin-left: 0; margin-right: 0; margin-bottom: 1em; font-weight: bold;} </style> </head> <body> <div> <p class="effectiveDate"> Effective July 1, 2027 </p> </div> </body> </html> <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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2094528Normal { 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.s2094528SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2094528CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2094528Statute { 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.s2094528DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2094528StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2094528000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2094528NoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2094528DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2094528SCL { 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="s2094528Normal"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-35.1"><span class="s2094528SENU">55-1A-35.1</span></a><span xml:space="preserve" class="s2094528SENU">. </span><span class="s2094528CL">Electronic execution of documents.</span></p><p dir="ltr" class="s2094528Statute"><span xml:space="preserve" class="s2094528DefaultParagraphFont">If otherwise validly executed, the following documents may be executed in accordance with chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=53-12"><span class="s2094528DefaultParagraphFont">53-12</span></a><span class="s2094528DefaultParagraphFont">:</span></p><p dir="ltr" class="s2094528StatuteNumber1"><span class="s2094528DefaultParagraphFont">(1)    The governing instrument of an express trust, or other document, other than a will or codicil as defined in title 29A;</span></p><p dir="ltr" class="s2094528StatuteNumber1"><span class="s2094528DefaultParagraphFont">(2)    The resignation, removal, appointment, or acceptance of appointment of any trustee, any advisor or protector, or of any designated representation addressed in title 55;</span></p><p dir="ltr" class="s2094528StatuteNumber1"><span class="s2094528DefaultParagraphFont">(3)    A consent, release, ratification, or indemnification addressed in title 55; and</span></p><p dir="ltr" class="s2094528StatuteNumber1"><span xml:space="preserve" class="s2094528DefaultParagraphFont">(4)    Any other document addressed by title 55 to the extent it is not excluded from the scope of chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=53-12"><span class="s2094528DefaultParagraphFont">53-12</span></a><span class="s2094528DefaultParagraphFont">.</span></p><p dir="ltr" class="s2094528Statute"><span xml:space="preserve" class="s2094528DefaultParagraphFont">Notwithstanding any provision of chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=53-12"><span class="s2094528DefaultParagraphFont">53-12</span></a><span xml:space="preserve" class="s2094528DefaultParagraphFont"> to the contrary, the documents under this section are deemed to be a transaction, as defined in § </span><a href="https://sdlegislature.gov/Statutes?Statute=53-12-1"><span class="s2094528DefaultParagraphFont">53-12-1</span></a><span xml:space="preserve" class="s2094528DefaultParagraphFont">, and are within the scope of chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=53-12"><span class="s2094528DefaultParagraphFont">53-12</span></a><span class="s2094528DefaultParagraphFont">.</span></p><p dir="ltr" class="s2094528Normal"><span xml:space="preserve" class="s2094528000000"> </span></p><p dir="ltr" class="s2094528NoIndent"><span xml:space="preserve" class="s2094528DefaultParagraphFont-000001">Source: </span><span class="s2094528SCL">SL 2023, ch 161, § 5; SL 2026, ch 197, § 2, eff. Jul. 1, 2027.</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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072612Normal { 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.s2072612SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072612CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072612Normal-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.s2072612DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072612000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072612SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072612SCL-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="s2072612Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-36"><span class="s2072612SENU">55-1A-36</span></a><span xml:space="preserve" class="s2072612SENU">. </span><span class="s2072612CL">Holding of two or more trusts with undivided interests.</span></p><p dir="ltr" class="s2072612Normal-000000"><span class="s2072612DefaultParagraphFont">A trustee may hold two or more trusts or parts of trusts created by the same instrument, as an undivided whole, without separation between such trusts or parts of such trusts; provided that, such separate trusts or parts of such trusts shall have undivided interests and that no such holding shall defer the vesting of any estate in possession or otherwise.</span></p><p dir="ltr" class="s2072612Normal"><span xml:space="preserve" class="s2072612000001"> </span></p><p dir="ltr" class="s2072612Normal"><span class="s2072612SCL">Source:</span><span xml:space="preserve" class="s2072612SCL-000002"> SL 1979, ch 336, § 36.</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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072613Normal { 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.s2072613SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072613CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072613Normal-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.s2072613DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072613000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072613SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072613SCL-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="s2072613Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-37"><span class="s2072613SENU">55-1A-37</span></a><span xml:space="preserve" class="s2072613SENU">. </span><span class="s2072613CL">Citation of chapter.</span></p><p dir="ltr" class="s2072613Normal-000000"><span class="s2072613DefaultParagraphFont">This chapter may be cited or referred to as the "South Dakota Trustees' Powers Act."</span></p><p dir="ltr" class="s2072613Normal"><span xml:space="preserve" class="s2072613000001"> </span></p><p dir="ltr" class="s2072613Normal"><span class="s2072613SCL">Source:</span><span xml:space="preserve" class="s2072613SCL-000002"> SL 1979, ch 336, § 37.</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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072614Normal { 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.s2072614SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072614CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072614Normal-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.s2072614DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072614000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072614SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072614SCL-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="s2072614Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-38"><span class="s2072614SENU">55-1A-38</span></a><span xml:space="preserve" class="s2072614SENU">. </span><span class="s2072614CL">Trustee may perform necessary and appropriate acts.</span></p><p dir="ltr" class="s2072614Normal-000000"><span class="s2072614DefaultParagraphFont">A trustee may perform such other acts, which, in the judgment of the trustee, may be necessary or appropriate for the proper management, investment, and distribution of the trust estate.</span></p><p dir="ltr" class="s2072614Normal"><span xml:space="preserve" class="s2072614000001"> </span></p><p dir="ltr" class="s2072614Normal"><span class="s2072614SCL">Source:</span><span xml:space="preserve" class="s2072614SCL-000002"> SL 1998, ch 282, § 37.</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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072615Normal { 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.s2072615SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072615CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072615Normal-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.s2072615DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072615000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072615SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072615SCL-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="s2072615Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-39"><span class="s2072615SENU">55-1A-39</span></a><span xml:space="preserve" class="s2072615SENU">. </span><span class="s2072615CL">Disclaimer of powers by trustee--Time limit.</span></p><p dir="ltr" class="s2072615Normal-000000"><span class="s2072615DefaultParagraphFont">Any power granted to a trustee in any written trust instrument may be disclaimed by that trustee in the manner provided by law for disclaimers, but without regard to the time limits provided by law for disclaimers. Upon such disclaimer, the powers so disclaimed shall cease to exist as to that trustee.</span></p><p dir="ltr" class="s2072615Normal"><span xml:space="preserve" class="s2072615000001"> </span></p><p dir="ltr" class="s2072615Normal"><span class="s2072615SCL">Source:</span><span xml:space="preserve" class="s2072615SCL-000002"> SL 1998, ch 282, § 39.</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 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072616Normal { 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.s2072616SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072616CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072616Normal-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.s2072616DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072616000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072616SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072616SCL-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="s2072616Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1A-40"><span class="s2072616SENU">55-1A-40</span></a><span xml:space="preserve" class="s2072616SENU">. </span><span class="s2072616CL">Trust name change.</span></p><p dir="ltr" class="s2072616Normal-000000"><span class="s2072616DefaultParagraphFont">A trustee may change the name of an irrevocable trust if the trustee deems such action to be in the best interests of the trust and its beneficiaries.</span></p><p dir="ltr" class="s2072616Normal"><span xml:space="preserve" class="s2072616000001"> </span></p><p dir="ltr" class="s2072616Normal"><span class="s2072616SCL">Source:</span><span xml:space="preserve" class="s2072616SCL-000002"> SL 2011, ch 212, § 13.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-1A - TRUSTEES' POWERS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sb3fe0128ad8d4796bdb6f0d0d710213aNormal { 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.sb3fe0128ad8d4796bdb6f0d0d710213aSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb3fe0128ad8d4796bdb6f0d0d710213aCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sb3fe0128ad8d4796bdb6f0d0d710213aStatute { 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.sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sb3fe0128ad8d4796bdb6f0d0d710213a000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sb3fe0128ad8d4796bdb6f0d0d710213aNoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb3fe0128ad8d4796bdb6f0d0d710213aSCL { 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><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 55-1A-41 - Co-trustee appointment--Powers."><meta property="og:description" content="SDLRC Codified Law 55-1A-41 - Co-trustee appointment--Powers."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=55-1A-41"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="sb3fe0128ad8d4796bdb6f0d0d710213aNormal"><a href="https://sdlegislature.gov/Statutes?Statute=55-1A-41" rel="noopener"><span class="sb3fe0128ad8d4796bdb6f0d0d710213aSENU">55-1A-41</span></a><span xml:space="preserve" class="sb3fe0128ad8d4796bdb6f0d0d710213aSENU">. </span><span class="sb3fe0128ad8d4796bdb6f0d0d710213aCL">Co-trustee appointment--Powers.</span></p><p dir="ltr" class="sb3fe0128ad8d4796bdb6f0d0d710213aStatute"><span class="sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont">Unless specifically restricted by the governing instrument, a trustee may appoint an individual or a corporate fiduciary as a co-trustee. The appointed co-trustee may serve only as long as the appointing trustee serves, or as long as the last to serve if more than one trustee appointed the co-trustee. The appointed co-trustee may not become a successor trustee upon the death, resignation, or incapacity of the appointing trustee, unless appointed under the terms of the governing instrument or unless no other successor trustee, or method for appointing a successor trustee, is provided in the governing instrument.</span></p><p dir="ltr" class="sb3fe0128ad8d4796bdb6f0d0d710213aStatute"><span class="sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont">The powers and the responsibilities of the appointed co-trustee may be limited by the appointing trustee in a writing signed by the appointing trustee at the time of the appointment. If the powers or responsibilities are so limited, the powers or responsibilities of the co-trustee shall be limited as set forth in writing. Unless the powers or responsibilities are so limited, the appointed co-trustee may exercise all the powers of the appointing trustee. The combined powers of the appointed co-trustee and the appointing trustee may not exceed the powers of the appointing trustee alone. The trustee appointing a co-trustee may, in writing, revoke the appointment at any time, with or without cause.</span></p><p dir="ltr" class="sb3fe0128ad8d4796bdb6f0d0d710213aStatute"><span class="sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont">Unless specifically restricted by the governing instrument, if the governing instrument gives a fiduciary other than the trustee the power to remove and replace the trustee, such power includes the power to appoint a co-trustee to serve with the current trustee.</span></p><p dir="ltr" class="sb3fe0128ad8d4796bdb6f0d0d710213aStatute"><span xml:space="preserve" class="sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont">If an appointment under this section confers upon the appointed co-trustee, to the exclusion of another co-trustee, the power to take certain actions, including the power to direct or prevent certain actions of the trustees, the limitations on liability and the relief from duties and obligations afforded an excluded fiduciary under § </span><a href="https://sdlegislature.gov/Statutes?Statute=55-1B-2" rel="noopener"><span class="sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont">55-1B-2</span></a><span xml:space="preserve" class="sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont"> apply to a co-trustee who does not hold such power.</span></p><p dir="ltr" class="sb3fe0128ad8d4796bdb6f0d0d710213aStatute"><span class="sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont">If the governing instrument is silent concerning the trustee's power to appoint a co-trustee, the trustee shall notify in writing, the trustor, if living, and all current income and principal beneficiaries at least thirty days prior to the effective date of the trustee's exercise of the power granted under this section. The notice, which shall include a copy of the proposed action, shall advise the trustor and current beneficiaries that if they object to the trustee's appointment they need to file a written objection with the trustee prior to the effective date set out in the notice of the proposed action. If an objection is received by the trustee, prior to the effective date of the appointment, the trustee may not appoint a co-trustee. However, this section does not limit the power of the trustee under law to petition the court for approval of the appointment. If no objection has been timely made, the proposed appointment becomes effective on the later of the date set out in the notice or thirty days after notice has been given. The notice must be sent by any means allowed under the terms of the trust instrument, by mail with postage prepaid to the last known address of the trustor or current beneficiary, or by means otherwise allowed by law.</span></p><p dir="ltr" class="sb3fe0128ad8d4796bdb6f0d0d710213aStatute"><span class="sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont">A governing instrument may provide for the appointment of two or more trustees and confer or allocate on one or more of the trustees, to the exclusion of other trustees, the power to direct, veto, or overrule specified actions or decisions of other trustees, or with sole responsibility for certain trustee duties. Any excluded trustee shall act in accordance with the exercise of the power, is not liable for complying with the exercise of the power, and has no obligation to review, inquire, investigate, or undertake any recommendations or evaluations with respect to the exercise of the power. A trustee having the power has the sole duty to account to the beneficiaries with respect to the exercise of the power and, if found liable for a breach of the trustee's duties with respect to the exercise of the power, is liable as if that trustee were the sole trustee.</span></p><p dir="ltr" class="sb3fe0128ad8d4796bdb6f0d0d710213aStatute"><span class="sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont">The provisions of this section are effective for trusts created before, on, or after July 1, 2017, except as otherwise directed by the trustor, trust protector, trust advisor, or other fiduciary designated by the terms of the trust.</span></p><p dir="ltr" class="sb3fe0128ad8d4796bdb6f0d0d710213aNormal"><span xml:space="preserve" class="sb3fe0128ad8d4796bdb6f0d0d710213a000000"> </span></p><p dir="ltr" class="sb3fe0128ad8d4796bdb6f0d0d710213aNoIndent"><span xml:space="preserve" class="sb3fe0128ad8d4796bdb6f0d0d710213aDefaultParagraphFont-000001">Source: </span><span class="sb3fe0128ad8d4796bdb6f0d0d710213aSCL">SL 2017, ch 204, § 12; SL 2019, ch 209, § 4; SL 2021, ch 207, § 8; SL 2023, ch 161, § 6.</span></p></div></body></html>