<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 55-3-40 - Validity, construction, and administration of trust with state jurisdiction provision. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072693Normal { 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.s2072693SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072693CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072693Normal-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.s2072693DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072693Normal-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.s2072693000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072693SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072693SCL-000003 { 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="s2072693Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-3-40"><span class="s2072693SENU">55-3-40</span></a><span xml:space="preserve" class="s2072693SENU">. </span><span class="s2072693CL">Validity, construction, and administration of trust with state jurisdiction provision.</span></p><p dir="ltr" class="s2072693Normal-000000"><span class="s2072693DefaultParagraphFont">The validity, construction, and administration of a trust with a state jurisdiction provision are determined by the laws of this state, including the:</span></p><p dir="ltr" class="s2072693Normal-000001"><span class="s2072693DefaultParagraphFont">(1)    Capacity of the trustor;</span></p><p dir="ltr" class="s2072693Normal-000001"><span class="s2072693DefaultParagraphFont">(2)    Powers, obligations, liabilities, and rights of the trustees and the appointment and removal of the trustees; and</span></p><p dir="ltr" class="s2072693Normal-000001"><span class="s2072693DefaultParagraphFont">(3)    Existence and extent of powers, conferred or retained, including a trustee's discretionary powers, and the validity of the exercise of a power.</span></p><p dir="ltr" class="s2072693Normal"><span xml:space="preserve" class="s2072693000002"> </span></p><p dir="ltr" class="s2072693Normal"><span class="s2072693SCL">Source:</span><span xml:space="preserve" class="s2072693SCL-000003"> SL 1998, ch 282, § 21.</span></p></div></body></html>