<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-6 - Powers and discretions of trust protector. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2079873Normal { 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.s2079873SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079873CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2079873Statute { 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.s2079873DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2079873StatuteNumber1 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } a.s2079873000000 { text-decoration: none; } p.s2079873Statute-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; } span.s2079873000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079873DefaultParagraphFont-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079873SCL { 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="s2079873Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-1B-6"><span class="s2079873SENU">55-1B-6</span></a><span xml:space="preserve" class="s2079873SENU">. </span><span class="s2079873CL">Powers and discretions of trust protector.</span></p><p dir="ltr" class="s2079873Statute"><span class="s2079873DefaultParagraphFont">The powers and discretions of a trust protector are as provided in the governing instrument and may be exercised or not exercised, in the best interests of the trust, in the sole and absolute discretion of the trust protector and are binding on all other persons. The powers and discretion may include the following:</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span xml:space="preserve" class="s2079873DefaultParagraphFont">(1)    Modify or amend the trust instrument to achieve favorable tax status or respond to </span><a id="_pagenumber6" class="s2079873000000"></a><span class="s2079873DefaultParagraphFont">changes in the Internal Revenue Code, state law, or the rulings and regulations thereunder;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(2)    Increase or decrease the interests of any beneficiaries to the trust;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(3)    Modify the terms of any power of appointment granted by the trust. However, a modification or amendment may not grant a beneficial interest to any individual or class of individuals not specifically provided for under the trust instrument;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(4)    Remove and appoint a trustee, a fiduciary provided for in the governing trust instrument, trust advisor, investment committee member, or distribution committee member;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span xml:space="preserve" class="s2079873DefaultParagraphFont">(5)    Terminate the trust; </span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(6)    Veto or direct trust distributions;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(7)    Change situs or governing law of the trust, or both;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(8)    Appoint a successor trust protector;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(9)    Interpret terms of the trust instrument at the request of the trustee;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(10)    Advise the trustee on matters concerning a beneficiary;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(11)    Amend or modify the trust instrument to take advantage of laws governing restraints on alienation, distribution of trust property, or the administration of the trust;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(12)    Reserved;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(13)    Add to the trust an individual beneficiary or beneficiaries from a class of individuals identified in the governing instrument;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(14)    Add to the trust a charitable beneficiary or beneficiaries from a class of charities identified in the trust instrument;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span class="s2079873DefaultParagraphFont">(15)    Provide other powers and discretions in the governing instrument;</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span xml:space="preserve" class="s2079873DefaultParagraphFont">(16)    Remove a representative as provided in subdivision </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-18-4"><span class="s2079873DefaultParagraphFont">55-18-4</span></a><span class="s2079873DefaultParagraphFont">(3);</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span xml:space="preserve" class="s2079873DefaultParagraphFont">(17)    Appoint a representative as provided in subdivision </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-18-9"><span class="s2079873DefaultParagraphFont">55-18-9</span></a><span class="s2079873DefaultParagraphFont">(12); and</span></p><p dir="ltr" class="s2079873StatuteNumber1"><span xml:space="preserve" class="s2079873DefaultParagraphFont">(18)    Act as a representative as provided in subdivision </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-18-9"><span class="s2079873DefaultParagraphFont">55-18-9</span></a><span class="s2079873DefaultParagraphFont">(11).</span></p><p dir="ltr" class="s2079873Statute-000001"><span xml:space="preserve" class="s2079873DefaultParagraphFont">In addition to the powers and discretions granted to the trust protector in the governing instrument, the trust protector may also exercise any of the powers and discretions granted to a trust protector under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-2-13"><span class="s2079873DefaultParagraphFont">55-2-13</span></a><span xml:space="preserve" class="s2079873DefaultParagraphFont"> to the extent such exercise is not prohibited under the terms of the governing instrument.</span></p><p dir="ltr" class="s2079873Statute-000001"><span xml:space="preserve" class="s2079873DefaultParagraphFont">The powers referenced in subdivisions (5), (6), and (11) may be granted notwithstanding the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-3-24"><span class="s2079873DefaultParagraphFont">55-3-24</span></a><span xml:space="preserve" class="s2079873DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-3-28"><span class="s2079873DefaultParagraphFont">55-3-28</span></a><span class="s2079873DefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s2079873Normal"><span xml:space="preserve" class="s2079873000002"> </span></p><p dir="ltr" class="s2079873Normal"><span xml:space="preserve" class="s2079873DefaultParagraphFont-000003">Source: </span><span class="s2079873SCL">SL 1997, ch 280, § 6; SL 2005, ch 260, § 3; SL 2009, ch 252, § 14; SL 2013, ch 239, § 20; SL 2016, ch 231, § 17; SL 2017, ch 208, § 29; SL 2020, ch 206, § 8.</span></p></div></body></html>