<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 55-1B-11 - Powers and discretions of distribution trust advisor. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2079864Normal { 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.s2079864SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079864CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2079864Statute { 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.s2079864DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } a.s2079864000000 { text-decoration: none; } span.s2079864000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079864DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079864SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2079864Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1B-11"><span class="s2079864SENU">55-1B-11</span></a><span xml:space="preserve" class="s2079864SENU">. </span><span class="s2079864CL">Powers and discretions of distribution trust advisor.</span></p><p dir="ltr" class="s2079864Statute"><span xml:space="preserve" class="s2079864DefaultParagraphFont">The powers and discretions of a distribution trust advisor over any discretionary distributions of income or principal, including distributions pursuant to an ascertainable standard or other criteria and appointments pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-2-15"><span class="s2079864DefaultParagraphFont">55-2-15</span></a><span xml:space="preserve" class="s2079864DefaultParagraphFont">, shall be provided in the trust instrument and may be exercised or not exercised, in the best interests of the trust, in the sole and absolute discretion of the distribution trust advisor and are binding on any other person and any other interested party, fiduciary, and excluded fiduciary. Unless the terms of the governing instrument provide otherwise, then, in </span><a id="_pagenumber8" class="s2079864000000"></a><span xml:space="preserve" class="s2079864DefaultParagraphFont">addition to the powers and discretions granted to the distribution trust advisor in the trust instrument, the distribution trust advisor shall direct the trustee with regard to all discretionary distributions to beneficiaries, may direct appointments pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-2-15"><span class="s2079864DefaultParagraphFont">55-2-15</span></a><span xml:space="preserve" class="s2079864DefaultParagraphFont">, and may exercise any of the powers and discretions granted to a distribution trust advisor in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-2-13"><span class="s2079864DefaultParagraphFont">55-2-13</span></a><span class="s2079864DefaultParagraphFont">.</span></p><p dir="ltr" class="s2079864Normal"><span xml:space="preserve" class="s2079864000001"> </span></p><p dir="ltr" class="s2079864Normal"><span xml:space="preserve" class="s2079864DefaultParagraphFont-000002">Source: </span><span class="s2079864SCL">SL 2005, ch 260, § 7; SL 2009, ch 252, § 15; SL 2011, ch 212, § 5; SL 2012, ch 233, § 7; SL 2020, ch 206, § 10.</span></p></div></body></html>