Source: https://law.justia.com/codes/south-dakota/2016/title-55/chapter-02/section-55-2-15/
Timestamp: 2019-04-24 14:02:07+00:00

Document:
Justia US Law US Codes and Statutes South Dakota Codified Laws 2016 South Dakota Codified Laws Title 55 - FIDUCIARIES AND TRUSTS Chapter 02 - Duties And Liabilities Of Trustees § 55-2-15 Trustee authorized to distribute income or principal from first trust may appoint all or part in favor of trustee of second trust--Restrictions--Power of appointment to beneficiary of second trust.
§ 55-2-15 Trustee authorized to distribute income or principal from first trust may appoint all or part in favor of trustee of second trust--Restrictions--Power of appointment to beneficiary of second trust.
SD Codified L § 55-2-15 (2016) What's This?
(10) If the trustee's distribution discretion is not subject to a standard, or if the trustee's distribution discretion is subject to a standard that does not create a support interest, then the court may review the trustee's determination or any related appointment only pursuant to § 55-1-43. Any other court review of the trustee's determination or any related appointment may be made only pursuant to § 55-1-42.
Notwithstanding the foregoing provisions of this section, the governing instrument of the second trust may grant a power of appointment to one or more of the beneficiaries of the second trust who are beneficiaries of the first trust. The power of appointment may include the power to appoint trust property to the holder of the power of appointment, the holder's creditors, the holder's estate, the creditors of the holder's estate, or any other person, whether or not that person is a trust beneficiary.
This section applies to any trust administered under the laws of this state, including a trust whose governing jurisdiction is transferred to this state.
Source: SL 2007, ch 281, § 1; SL 2008, ch 257, § 11; SL 2009, ch 252, § 17; SL 2011, ch 212, § 10; SL 2012, ch 233, § 4; SL 2013, ch 239, § 16.

References: § 55

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