<HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 55-9 - CHARITABLE TRUSTS 55-9 CHARITABLE TRUSTS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 55-9 CHARITABLE TRUSTS "> <META NAME="Description" Content="South Dakota Codified Laws 55-9"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 55-9 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> CHARITABLE TRUSTS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-1">55-9-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Express trusts--Creation for charitable, educational, religious, or other public use. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-2">55-9-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Validity of trust not affected by uncertainty or violation of rule against perpetuities--Disposal of property by trustee. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-3">55-9-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Action to enforce charitable trust--Liberal construction to carry out intent--Notice of action to attorney general. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-4">55-9-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Incomplete or imperfect trust--Purposes impracticable or impossible of performance--Administration to accomplish general purpose--Order of court with consent of donor, if alive and competent. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-5">55-9-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Enforcement by attorney general as representative of beneficiaries--Exception. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-6">55-9-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Restrictions to avoid taxability of income--Definition of terms. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-7">55-9-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Restrictions deemed incorporated in instrument creating charitable trust or foundation. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-8">55-9-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Self-dealing by trustee prohibited. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-9">55-9-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Distributions required to avoid taxes. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-10">55-9-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Retention of excess business holdings prohibited. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-11">55-9-11</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Investments to jeopardize exempt purposes prohibited. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-12">55-9-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Taxable expenditures prohibited. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-13">55-9-13</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Judicial determination that restrictive provisions are contrary to instrument creating trust. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=55-9-14">55-9-14</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> State supervisory powers unimpaired by restrictions to avoid taxability of income. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072822Normal { 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.s2072822SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072822CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072822Normal-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.s2072822DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072822000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072822SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072822SCL-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="s2072822Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-1"><span class="s2072822SENU">55-9-1</span></a><span xml:space="preserve" class="s2072822SENU">. </span><span class="s2072822CL">Express trusts--Creation for charitable, educational, religious, or other public use.</span></p><p dir="ltr" class="s2072822Normal-000000"><span class="s2072822DefaultParagraphFont">Express trusts of real or personal property, or both, may be created to receive by grant, devise, gift, or bequest, and to take charge of, invest and administer in accordance with the terms of the trust, upon and for any charitable, benevolent, educational, religious or other public use or trust.</span></p><p dir="ltr" class="s2072822Normal"><span xml:space="preserve" class="s2072822000001"> </span></p><p dir="ltr" class="s2072822Normal"><span class="s2072822SCL">Source:</span><span xml:space="preserve" class="s2072822SCL-000002"> SL 1955, ch 429, § 1; SDC Supp 1960, § 59.0601.</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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072823Normal { 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.s2072823SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072823CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072823Normal-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.s2072823DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072823000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072823SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072823SCL-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="s2072823Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-2"><span class="s2072823SENU">55-9-2</span></a><span xml:space="preserve" class="s2072823SENU">. </span><span class="s2072823CL">Validity of trust not affected by uncertainty or violation of rule against perpetuities--Disposal of property by trustee.</span></p><p dir="ltr" class="s2072823Normal-000000"><span class="s2072823DefaultParagraphFont">No such trust shall be invalid because of indefiniteness or uncertainty of the object of such trust or of the beneficiaries thereof designated in the instrument creating the same nor by reason of the same contravening any statute or rule against perpetuities, but no such trust shall be construed so as to prevent or limit the free alienation of the title to any of the trust estate by the trustee in the administration of said trust, except as may be permitted under existing or subsequent statutes.</span></p><p dir="ltr" class="s2072823Normal"><span xml:space="preserve" class="s2072823000001"> </span></p><p dir="ltr" class="s2072823Normal"><span class="s2072823SCL">Source:</span><span xml:space="preserve" class="s2072823SCL-000002"> SL 1955, ch 429, § 2; SDC Supp 1960, § 59.0602.</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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072824Normal { 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.s2072824SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072824CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072824Normal-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.s2072824DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072824Normal-000001 { 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.s2072824000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072824SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072824SCL-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="s2072824Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-3"><span class="s2072824SENU">55-9-3</span></a><span xml:space="preserve" class="s2072824SENU">. </span><span class="s2072824CL">Action to enforce charitable trust--Liberal construction to carry out intent--Notice of action to attorney general.</span></p><p dir="ltr" class="s2072824Normal-000000"><span class="s2072824DefaultParagraphFont">Such trust shall be liberally construed by the courts so that the intentions of the donor thereof shall be carried out whenever possible, and no such trust shall fail solely because the donor has imperfectly outlined the purpose and object of such charity or the method of administration.</span></p><p dir="ltr" class="s2072824Normal-000001"><span xml:space="preserve" class="s2072824DefaultParagraphFont">A grantor may maintain an action to enforce a charitable trust under this section and may designate in writing a person or persons, whether or not born at the time of such designation, to enforce a charitable trust under this section. In any such action, the attorney general shall be provided notice as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-22-18"><span class="s2072824DefaultParagraphFont">21-22-18</span></a><span class="s2072824DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072824Normal"><span xml:space="preserve" class="s2072824000002"> </span></p><p dir="ltr" class="s2072824Normal"><span class="s2072824SCL">Source:</span><span xml:space="preserve" class="s2072824SCL-000003"> SL 1955, ch 429, § 3; SDC Supp 1960, § 59.0603; SL 2012, ch 233, § 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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072825Normal { 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.s2072825SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072825CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072825Normal-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.s2072825DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072825000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072825SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072825SCL-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="s2072825Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-4"><span class="s2072825SENU">55-9-4</span></a><span xml:space="preserve" class="s2072825SENU">. </span><span class="s2072825CL">Incomplete or imperfect trust--Purposes impracticable or impossible of performance--Administration to accomplish general purpose--Order of court with consent of donor, if alive and competent.</span></p><p dir="ltr" class="s2072825Normal-000000"><span class="s2072825DefaultParagraphFont">Whenever it shall appear to the circuit court for the proper county that the purpose and object of such charity is imperfectly expressed, or the method of administration is not indicated or is incomplete or imperfect, or that the fulfillment of the special purpose expressed in a trust for charitable or public purpose is or becomes impracticable, impossible, inexpedient or unlawful, such court shall upon the application of any trustee of the trust, or any interested party or the attorney general of this state, and upon such notice as said court may direct, make an order directing that such trust shall be administered or expended in such manner as in the judgment of said court will, as nearly as can be, accomplish the general purposes of the instrument and the object and intention of the donor without regard to, and free from any, specific restriction, limitation or direction contained therein, provided, however, that no such order shall be made without the consent of the donor of said trust if he is then living and mentally competent.</span></p><p dir="ltr" class="s2072825Normal"><span xml:space="preserve" class="s2072825000001"> </span></p><p dir="ltr" class="s2072825Normal"><span class="s2072825SCL">Source:</span><span xml:space="preserve" class="s2072825SCL-000002"> SL 1955, ch 429, § 3; SDC Supp 1960, § 59.0603.</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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072826Normal { 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.s2072826SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072826CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072826Normal-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.s2072826DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072826000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072826SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072826SCL-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="s2072826Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-5"><span class="s2072826SENU">55-9-5</span></a><span xml:space="preserve" class="s2072826SENU">. </span><span class="s2072826CL">Enforcement by attorney general as representative of beneficiaries--Exception.</span></p><p dir="ltr" class="s2072826Normal-000000"><span xml:space="preserve" class="s2072826DefaultParagraphFont">Except as otherwise set forth in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-3"><span class="s2072826DefaultParagraphFont">55-9-3</span></a><span class="s2072826DefaultParagraphFont">, the attorney general shall represent the beneficiaries in all cases arising under this chapter, and the attorney general shall enforce such trusts by proper proceedings in the courts.</span></p><p dir="ltr" class="s2072826Normal"><span xml:space="preserve" class="s2072826000001"> </span></p><p dir="ltr" class="s2072826Normal"><span class="s2072826SCL">Source:</span><span xml:space="preserve" class="s2072826SCL-000002"> SL 1955, ch 429, § 3; SDC Supp 1960, § 59.0603; SL 2012, ch 233, § 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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072827Normal { 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.s2072827SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072827CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072827Normal-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.s2072827DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072827Normal-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.s2072827DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072827000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072827SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072827SCL-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="s2072827Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-6"><span class="s2072827SENU">55-9-6</span></a><span xml:space="preserve" class="s2072827SENU">. </span><span class="s2072827CL">Restrictions to avoid taxability of income--Definition of terms.</span></p><p dir="ltr" class="s2072827Normal-000000"><span xml:space="preserve" class="s2072827DefaultParagraphFont">Terms as used in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-6"><span class="s2072827DefaultParagraphFont">55-9-6</span></a><span xml:space="preserve" class="s2072827DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-14"><span class="s2072827DefaultParagraphFont">55-9-14</span></a><span class="s2072827DefaultParagraphFont">, inclusive shall have the following meaning:</span></p><p dir="ltr" class="s2072827Normal-000001"><span class="s2072827DefaultParagraphFont">(1)    "Charitable trust," as defined in section 4947 (a)(1) of the Internal Revenue Code;</span></p><p dir="ltr" class="s2072827Normal-000001"><span class="s2072827DefaultParagraphFont">(2)    "Excess business holdings," as defined in section 4943 (c) of the Internal Revenue Code;</span></p><p dir="ltr" class="s2072827Normal-000001"><span class="s2072827DefaultParagraphFont">(3)    "Internal Revenue Code," the United States Internal Revenue Code of 1954, as amended;</span></p><p dir="ltr" class="s2072827Normal-000001"><span class="s2072827DefaultParagraphFont">(4)    "Private foundation," as defined in section 509 (a) of the Internal Revenue Code;</span></p><p dir="ltr" class="s2072827Normal-000001"><span class="s2072827DefaultParagraphFont">(5)    "Self</span><span class="s2072827DefaultParagraphFont-000002">-</span><span class="s2072827DefaultParagraphFont">dealing," as defined in section 4941 (d) of the Internal Revenue Code;</span></p><p dir="ltr" class="s2072827Normal-000001"><span class="s2072827DefaultParagraphFont">(6)    "Split</span><span class="s2072827DefaultParagraphFont-000002">-</span><span class="s2072827DefaultParagraphFont">interest," as defined in section 4947 (a)(2) of the Internal Revenue Code;</span></p><p dir="ltr" class="s2072827Normal-000001"><span class="s2072827DefaultParagraphFont">(7)    "Taxable expenditure," as defined in section 4945 (d) of the Internal Revenue Code;</span></p><p dir="ltr" class="s2072827Normal-000001"><span class="s2072827DefaultParagraphFont">(8)    "Trustee," a corporation, individual, or other legal entity acting as an original, added, or successor trustee of a testamentary or inter vivos trust estate, whichever in a particular case shall be appropriate.</span></p><p dir="ltr" class="s2072827Normal"><span xml:space="preserve" class="s2072827000003"> </span></p><p dir="ltr" class="s2072827Normal"><span class="s2072827SCL">Source:</span><span xml:space="preserve" class="s2072827SCL-000004"> SL 1972, ch 259, § 1.</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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072828Normal { 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.s2072828SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072828CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072828Normal-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.s2072828DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072828DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072828000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072828SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072828SCL-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="s2072828Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-7"><span class="s2072828SENU">55-9-7</span></a><span xml:space="preserve" class="s2072828SENU">. </span><span class="s2072828CL">Restrictions deemed incorporated in instrument creating charitable trust or foundation.</span></p><p dir="ltr" class="s2072828Normal-000000"><span class="s2072828DefaultParagraphFont">Any will or trust instrument creating a trust which is a private foundation, charitable trust, or a split</span><span class="s2072828DefaultParagraphFont-000001">-</span><span xml:space="preserve" class="s2072828DefaultParagraphFont">interest trust and any other instrument governing the trustee of any such trust or the use, retention, or disposition of any of the income or property of such trust, shall be deemed to have incorporated within such will, trust instrument, or other governing instrument with the same effect as though such language were set forth verbatim in such will, trust instrument, or other governing instrument, the provisions set forth in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-8"><span class="s2072828DefaultParagraphFont">55-9-8</span></a><span xml:space="preserve" class="s2072828DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-12"><span class="s2072828DefaultParagraphFont">55-9-12</span></a><span xml:space="preserve" class="s2072828DefaultParagraphFont">, inclusive, with respect to such trust and the trustee thereof, and, except as the contrary is provided in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-13"><span class="s2072828DefaultParagraphFont">55-9-13</span></a><span xml:space="preserve" class="s2072828DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-14"><span class="s2072828DefaultParagraphFont">55-9-14</span></a><span class="s2072828DefaultParagraphFont">, such provisions shall govern the administration and distribution of any such trust irrespective of any provisions of any applicable will, trust instrument, or other governing instrument, statute or law of this state to the contrary.</span></p><p dir="ltr" class="s2072828Normal"><span xml:space="preserve" class="s2072828000002"> </span></p><p dir="ltr" class="s2072828Normal"><span class="s2072828SCL">Source:</span><span xml:space="preserve" class="s2072828SCL-000003"> SL 1972, ch 259, § 2.</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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072829Normal { 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.s2072829SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072829CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072829CL-000000 { font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072829Normal-000001 { 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.s2072829DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072829DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072829000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072829SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072829SCL-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="s2072829Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-8"><span class="s2072829SENU">55-9-8</span></a><span xml:space="preserve" class="s2072829SENU">. </span><span class="s2072829CL">Self</span><span class="s2072829CL-000000">-</span><span class="s2072829CL">dealing by trustee prohibited.</span></p><p dir="ltr" class="s2072829Normal-000001"><span xml:space="preserve" class="s2072829DefaultParagraphFont">The trustee of a trust described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-7"><span class="s2072829DefaultParagraphFont">55-9-7</span></a><span xml:space="preserve" class="s2072829DefaultParagraphFont"> shall not engage in any act of self</span><span class="s2072829DefaultParagraphFont-000002">-</span><span class="s2072829DefaultParagraphFont">dealing which would give rise to any liability for the tax imposed by section 4941 (a) of the Internal Revenue Code.</span></p><p dir="ltr" class="s2072829Normal"><span xml:space="preserve" class="s2072829000003"> </span></p><p dir="ltr" class="s2072829Normal"><span class="s2072829SCL">Source:</span><span xml:space="preserve" class="s2072829SCL-000004"> SL 1972, ch 259, § 2 (2).</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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072830Normal { 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.s2072830SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072830CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072830Normal-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.s2072830DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072830000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072830SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072830SCL-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="s2072830Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-9"><span class="s2072830SENU">55-9-9</span></a><span xml:space="preserve" class="s2072830SENU">. </span><span class="s2072830CL">Distributions required to avoid taxes.</span></p><p dir="ltr" class="s2072830Normal-000000"><span xml:space="preserve" class="s2072830DefaultParagraphFont">The trustee of a trust described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-7"><span class="s2072830DefaultParagraphFont">55-9-7</span></a><span xml:space="preserve" class="s2072830DefaultParagraphFont"> shall distribute for each taxable year of the trust, amounts at least sufficient to avoid liability for the tax imposed by section 4942 (a) of the Internal Revenue Code.</span></p><p dir="ltr" class="s2072830Normal"><span xml:space="preserve" class="s2072830000001"> </span></p><p dir="ltr" class="s2072830Normal"><span class="s2072830SCL">Source:</span><span xml:space="preserve" class="s2072830SCL-000002"> SL 1972, ch 259, § 2 (1).</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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072831Normal { 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.s2072831SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072831CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072831Normal-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.s2072831DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072831000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072831SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072831SCL-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="s2072831Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-10"><span class="s2072831SENU">55-9-10</span></a><span xml:space="preserve" class="s2072831SENU">. </span><span class="s2072831CL">Retention of excess business holdings prohibited.</span></p><p dir="ltr" class="s2072831Normal-000000"><span xml:space="preserve" class="s2072831DefaultParagraphFont">The trustee of a trust described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-7"><span class="s2072831DefaultParagraphFont">55-9-7</span></a><span xml:space="preserve" class="s2072831DefaultParagraphFont"> shall not retain any excess business holdings which would give rise to any liability for the tax imposed by section 4943 (a) of the Internal Revenue Code.</span></p><p dir="ltr" class="s2072831Normal"><span xml:space="preserve" class="s2072831000001"> </span></p><p dir="ltr" class="s2072831Normal"><span class="s2072831SCL">Source:</span><span xml:space="preserve" class="s2072831SCL-000002"> SL 1972, ch 259, § 2 (3).</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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072832Normal { 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.s2072832SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072832CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072832Normal-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.s2072832DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072832000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072832SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072832SCL-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="s2072832Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-11"><span class="s2072832SENU">55-9-11</span></a><span xml:space="preserve" class="s2072832SENU">. </span><span class="s2072832CL">Investments to jeopardize exempt purposes prohibited.</span></p><p dir="ltr" class="s2072832Normal-000000"><span xml:space="preserve" class="s2072832DefaultParagraphFont">The trustee of a trust described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-7"><span class="s2072832DefaultParagraphFont">55-9-7</span></a><span xml:space="preserve" class="s2072832DefaultParagraphFont"> shall not make any investments which would jeopardize the carrying out of any of the exempt purposes of the trust, within the meaning of section 4944 of the Internal Revenue Code, so as to give rise to any liability for the tax imposed by section 4944 (a) of the Internal Revenue Code.</span></p><p dir="ltr" class="s2072832Normal"><span xml:space="preserve" class="s2072832000001"> </span></p><p dir="ltr" class="s2072832Normal"><span class="s2072832SCL">Source:</span><span xml:space="preserve" class="s2072832SCL-000002"> SL 1972, ch 259, § 2 (4).</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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072833Normal { 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.s2072833SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072833CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072833Normal-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.s2072833DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072833000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072833SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072833SCL-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="s2072833Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-12"><span class="s2072833SENU">55-9-12</span></a><span xml:space="preserve" class="s2072833SENU">. </span><span class="s2072833CL">Taxable expenditures prohibited.</span></p><p dir="ltr" class="s2072833Normal-000000"><span xml:space="preserve" class="s2072833DefaultParagraphFont">The trustee of a trust described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-7"><span class="s2072833DefaultParagraphFont">55-9-7</span></a><span xml:space="preserve" class="s2072833DefaultParagraphFont"> shall not make any taxable expenditure which would give rise to any liability for the tax imposed by section 4945 (a) of the Internal Revenue Code.</span></p><p dir="ltr" class="s2072833Normal"><span xml:space="preserve" class="s2072833000001"> </span></p><p dir="ltr" class="s2072833Normal"><span class="s2072833SCL">Source:</span><span xml:space="preserve" class="s2072833SCL-000002"> SL 1972, ch 259, § 2 (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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072834Normal { 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.s2072834SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072834CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072834Normal-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.s2072834DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072834000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072834SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072834SCL-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="s2072834Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-13"><span class="s2072834SENU">55-9-13</span></a><span xml:space="preserve" class="s2072834SENU">. </span><span class="s2072834CL">Judicial determination that restrictive provisions are contrary to instrument creating trust.</span></p><p dir="ltr" class="s2072834Normal-000000"><span xml:space="preserve" class="s2072834DefaultParagraphFont">Sections </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-7"><span class="s2072834DefaultParagraphFont">55-9-7</span></a><span xml:space="preserve" class="s2072834DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-12"><span class="s2072834DefaultParagraphFont">55-9-12</span></a><span xml:space="preserve" class="s2072834DefaultParagraphFont">, inclusive, shall not apply to the extent that a court of competent jurisdiction shall determine that such application would be contrary to the terms of the will, trust instrument, or other governing instrument described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-7"><span class="s2072834DefaultParagraphFont">55-9-7</span></a><span xml:space="preserve" class="s2072834DefaultParagraphFont"> and that such will, trust instrument or other governing instrument may not be changed to conform to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-8"><span class="s2072834DefaultParagraphFont">55-9-8</span></a><span xml:space="preserve" class="s2072834DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-12"><span class="s2072834DefaultParagraphFont">55-9-12</span></a><span class="s2072834DefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s2072834Normal"><span xml:space="preserve" class="s2072834000001"> </span></p><p dir="ltr" class="s2072834Normal"><span class="s2072834SCL">Source:</span><span xml:space="preserve" class="s2072834SCL-000002"> SL 1972, ch 259, § 3.</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 55-9 - CHARITABLE TRUSTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072835Normal { 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.s2072835SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072835CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072835Normal-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.s2072835DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072835000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072835SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072835SCL-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="s2072835Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-14"><span class="s2072835SENU">55-9-14</span></a><span xml:space="preserve" class="s2072835SENU">. </span><span class="s2072835CL">State supervisory powers unimpaired by restrictions to avoid taxability of income.</span></p><p dir="ltr" class="s2072835Normal-000000"><span xml:space="preserve" class="s2072835DefaultParagraphFont">Nothing in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-6"><span class="s2072835DefaultParagraphFont">55-9-6</span></a><span xml:space="preserve" class="s2072835DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-9-13"><span class="s2072835DefaultParagraphFont">55-9-13</span></a><span class="s2072835DefaultParagraphFont">, inclusive, shall impair the rights and powers of the attorney general or the courts of this state with respect to any trust.</span></p><p dir="ltr" class="s2072835Normal"><span xml:space="preserve" class="s2072835000001"> </span></p><p dir="ltr" class="s2072835Normal"><span class="s2072835SCL">Source:</span><span xml:space="preserve" class="s2072835SCL-000002"> SL 1972, ch 259, § 4.</span></p></div></body></html>