<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 55-2-18 - Exercise of power to distribute income or principal by written instrument--Notice to beneficiaries of first trust. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072650Normal { 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.s2072650SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072650CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072650Normal-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.s2072650DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072650000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072650SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072650SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2072650Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-2-18"><span class="s2072650SENU">55-2-18</span></a><span xml:space="preserve" class="s2072650SENU">. </span><span class="s2072650CL">Exercise of power to distribute income or principal by written instrument--Notice to beneficiaries of first trust.</span></p><p dir="ltr" class="s2072650Normal-000000"><span xml:space="preserve" class="s2072650DefaultParagraphFont">The exercise of the power to distribute the income or principal of the trust under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-2-15"><span class="s2072650DefaultParagraphFont">55-2-15</span></a><span xml:space="preserve" class="s2072650DefaultParagraphFont"> shall be by an instrument in writing, signed and acknowledged by the trustee and filed with the records of the trust. The trustee of the first trust may notify the beneficiaries of the first trust, in writing, prior to the effective date of the trustee's exercise of the power under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-2-15"><span class="s2072650DefaultParagraphFont">55-2-15</span></a><span xml:space="preserve" class="s2072650DefaultParagraphFont"> (applying chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-18"><span class="s2072650DefaultParagraphFont">55-18</span></a><span xml:space="preserve" class="s2072650DefaultParagraphFont">). A copy of the exercise of this authority and the second trust agreement shall satisfy this notice provision. For the purposes of this section, the term, beneficiaries, means those persons who would be entitled to notice and a copy of the first trust instrument under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-2-13"><span class="s2072650DefaultParagraphFont">55-2-13</span></a><span class="s2072650DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072650Normal"><span xml:space="preserve" class="s2072650000001"> </span></p><p dir="ltr" class="s2072650Normal"><span class="s2072650SCL">Source:</span><span xml:space="preserve" class="s2072650SCL-000002"> SL 2007, ch 281, § 4; SL 2009, ch 252, § 19; SL 2013, ch 239, § 17; SL 2017, ch 208, § 31.</span></p></div></body></html>