<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 59-12-33 - Estates, trusts, and other beneficial interests.</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078719Normal { text-indent: 0.50in; text-align: justify; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078719SENU { font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078719CL { font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078719StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078719DefaultParagraphFont { font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2078719StatuteNumber2 { margin-left: 1.25in; text-indent: -0.50in; text-align: justify; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } a.s2078719000000 { text-decoration: none; } span.s2078719000001 { font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2078719NoIndent { text-indent: 0.00in; text-align: justify; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078719DefaultParagraphFont-000002 { font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078719SCL { font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2078719Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=59-12-33"><span class="s2078719SENU">59-12-33</span></a><span xml:space="preserve" class="s2078719SENU">. </span><span class="s2078719CL">Estates, trusts, and other beneficial interests.</span></p><p dir="ltr" class="s2078719StatuteNumber1"><span class="s2078719DefaultParagraphFont">(1)    For purposes of this section, the terms, estate, trust, or other beneficial interest, mean a trust, probate estate, guardianship, conservatorship, escrow, or custodianship or a fund from which the principal is, may become, or claims to be, entitled to a share or payment.</span></p><p dir="ltr" class="s2078719StatuteNumber1"><span class="s2078719DefaultParagraphFont">(2)    Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to estates, trusts, and other beneficial interests authorizes the agent to:</span></p><p dir="ltr" class="s2078719StatuteNumber2"><span class="s2078719DefaultParagraphFont">(a)    Accept, receive, receipt for, sell, assign, pledge, or exchange a share in or payment from an estate, trust, or other beneficial interest;</span></p><p dir="ltr" class="s2078719StatuteNumber2"><span class="s2078719DefaultParagraphFont">(b)    Demand or obtain money or another thing of value to which the principal is, may become, or claims to be, entitled by reason of an estate, trust, or other beneficial interest, by litigation or otherwise;</span></p><p dir="ltr" class="s2078719StatuteNumber2"><span class="s2078719DefaultParagraphFont">(c)    Exercise for the benefit of the principal a presently exercisable general or limited power of appointment held by the principal;</span></p><p dir="ltr" class="s2078719StatuteNumber2"><a id="_pagenumber23" class="s2078719000000"></a><span class="s2078719DefaultParagraphFont">(d)    Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to ascertain the meaning, validity, or effect of a deed, will, declaration of trust, or other instrument or transaction affecting the interest of the principal;</span></p><p dir="ltr" class="s2078719StatuteNumber2"><span class="s2078719DefaultParagraphFont">(e)    Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to remove, substitute, or surcharge a fiduciary;</span></p><p dir="ltr" class="s2078719StatuteNumber2"><span class="s2078719DefaultParagraphFont">(f)    Conserve, invest, disburse, or use anything received for an authorized purpose;</span></p><p dir="ltr" class="s2078719StatuteNumber2"><span class="s2078719DefaultParagraphFont">(g)    Transfer an interest of the principal in real property, stocks and bonds, accounts with financial institutions or securities intermediaries, insurance, annuities, and other property to the trustee of a trust; and</span></p><p dir="ltr" class="s2078719StatuteNumber2"><span xml:space="preserve" class="s2078719DefaultParagraphFont">(h)    Act as a representative pursuant to subdivision </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=55-18-9"><span class="s2078719DefaultParagraphFont">55-18-9</span></a><span xml:space="preserve" class="s2078719DefaultParagraphFont">(8), except as otherwise provided in subdivision </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=59-12-23"><span class="s2078719DefaultParagraphFont">59-12-23</span></a><span class="s2078719DefaultParagraphFont">(8).</span></p><p dir="ltr" class="s2078719Normal"><span xml:space="preserve" class="s2078719000001"> </span></p><p dir="ltr" class="s2078719NoIndent"><span xml:space="preserve" class="s2078719DefaultParagraphFont-000002">Source: </span><span class="s2078719SCL">SL 2020, ch 214, § 33.</span></p></div></body></html>