reglab/housing_qa huggingface dataset:
SD Codified L § 55-1-7 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-7 - Wrongful detention creates implied trust.

55-1-7. Wrongful detention creates implied trust.One who wrongfully detains a thing is an implied trustee thereof for the benefit of the owner. Source: SDC 1939, §59.0102 (1).
SD Codified L § 55-1-8 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-8 - Implied trust resulting from fraud, accident or wrongful act.

55-1-8. Implied trust resulting from fraud, accident or wrongful act.One who gains a thing by fraud, accident, mistake, undue influence, the violation of a trust or other wrongful act, is, unless he has some other and better right thereto, an implied trustee of the thing gained for the benefit of the person who would otherwise have had it. Source: SDC 1939, §59.0102 (2).
SD Codified L § 55-1-9 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-9 - Implied trust created by transfer of property in violation of trust.

55-1-9. Implied trust created by transfer of property in violation of trust.Everyone to whom property is transferred in violation of a trust holds the same as an implied trustee under such trust, unless he purchased it in good faith and for a valuable consideration. Source: SDC 1939, §59.0102 (3).
SD Codified L § 55-1-10 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-10 - Transfer of real property to one for money paid by another--Trust presumed.

55-1-10. Transfer of real property to one for money paid by another--Trust presumed.When a transfer of real property is made to one person and the consideration therefor is paid by or for another, a trust is presumed to result in favor of the person by or for whom such payment is made. Source: SDC 1939, §59.0102 (4).
SD Codified L § 55-1-11 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-11 - Implied trust--Declaration by court of equity.

55-1-11. Implied trust--Declaration by court of equity.The enumeration in §§55-1-7 to 55-1-10, inclusive, of cases wherein an implied trust arises does not exclude or prevent the arising of an implied trust in other cases nor prevent a court of equity from establishing and declaring an implied, resulting, or constructive trust in other cases and instances pursuant to the custom and practice of such courts. Source: SDC 1939, §59.0102.
SD Codified L § 55-1-12 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-12 - Trustor, trustee, beneficiary, power of appointment, and person defined.

55-1-12. Trustor, trustee, beneficiary, power of appointment, and person defined. The person whose confidence creates a trust is called the trustor; the person in whom the confidence is reposed is called the trustee; and the person for whose benefit the trust is created is called the beneficiary. As used in this title, except as specifically provided in chapters 55-13 and 55-13A, the term, beneficiary, means a person that has a present or future beneficial interest in a trust, vested or contingent. A person is not a beneficiary solely by reason of holding a power of appointment or by reason of the existence or exercise of a discretionary power described in §55-1-36.1 with respect to the person. As used in this title, except as provided in §55-1-26, the term, power of appointment, means a power, including a withdrawal power as defined in §55-1-24.2, to direct the disposition of trust property, but does not include the authority of a trustee to make a distribution to a beneficiary. A power of appointment is held by the person to whom the power has been given and once granted to a person, is not capable of appropriation or of manual delivery. A power of appointment is a general power of appointment if it is exercisable in favor of the person holding the power, the person's estate, the person's creditors, or the creditors of the person's estate, whether or not the power is also exercisable in favor of others. A power of appointment is a nongeneral power of appointment if it is not a general power of appointment. A holder of a general or nongeneral power of appointment may not be deemed a fiduciary unless otherwise provided for in the trust instrument. As used in this chapter, the term, person, has the meaning set forth in §55-4-1. Source: SDC 1939, §59.0103; SL 1998, ch 282, §40; SL 2015, ch 240, §9; SL 2016, ch 231, §9; SL 2021, ch 207, § 12.
SD Codified L § 55-1-13 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-13 - Voluntary trustee--Assumption of relationship.

55-1-13. Voluntary trustee--Assumption of relationship.Everyone who voluntarily assumes a relation of personal confidence with another is deemed a trustee within the meaning of this chapter and chapter 55-2 not only as to the person who reposes such confidence, but also as to all persons of whose affairs he thus acquires information which was given to such person in the like confidence or over whose affairs he, by such confidence, obtains any control. Source: SDC 1939, §59.0103.
SD Codified L § 55-1-14 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-14 - Interest in existing trust--Transfer by operation of law or written instrument.

55-1-14. Interest in existing trust--Transfer by operation of law or written instrument.An interest in an existing trust can be transferred only by operation of law or by a written instrument subscribed by the person making the transfer or by his agent. Source: SDC 1939, §59.0118.
SD Codified L § 55-1-15 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-15 - Certain trusts not terminated upon trustor's death.

55-1-15. Certain trusts not terminated upon trustor's death.A trust which provides for one or more successor beneficiaries upon the death of the trustor is not invalid, merged or terminated if:(1)There is a trustor who is the sole trustee and the sole beneficiary during the trustor's lifetime; or(2)There are two or more trustors, one or more of whom is trustee, and the beneficial interest of the trust is in one or more of the trustors during the lifetime of the trustors. Source: SL 1991, ch 395, §1.
SD Codified L § 55-1-20 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-20 - Trusts for noncharitable purposes.

55-1-20. Trusts for noncharitable purposes.Subdivisions 55-1-4(2) and 55-1-5(2) notwithstanding, a purpose trust may be performed pursuant to this section and §§55-1-21 to 55-1-22.6, inclusive, if the trust is for a lawful noncharitable purpose or purposes. Any property may form a part or all of the trust estate, including some, all, or an interest in some or all of the property that is the subject or purpose of a purpose trust. A governing instrument of such a trust shall be liberally construed in favor of its validity to presume against the merely precatory or honorary nature of the disposition and to carry out the trustor's intent. If necessary, extrinsic evidence is admissible to determine the trustor's intent. Neither the common law rule against perpetuities, nor any rule restricting the accumulation of income, nor any common law rule limiting the duration of noncharitable purpose trusts is in force in this state. Source: SL 2006, ch 247, §1; SL 2008, ch 257, §1; SL 2011, ch 212, §40; SL 2018, ch 275, §2.
SD Codified L § 55-1-21 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-21 - Trust for care of animal, care of other property, or other lawful noncharitable purpose.

55-1-21. Trust for care of animal, care of other property, or other lawful noncharitable purpose.The following purpose trusts are valid:(1)A trust for the care of a designated animal or animals;(2)A trust for the care, maintenance, promotion, continuation, conservation, upkeep, protection, furtherance, or preservation of any other property; and(3)A trust for any other lawful noncharitable purpose or purposes. Source: SL 2006, ch 247, §2; SL 2018, ch 275, §3.
SD Codified L § 55-1-21.1 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-21.1 - Termination of trust for care of animal.

55-1-21.1. Termination of trust for care of animal.Except as otherwise provided in the governing instrument, a trust described in subdivision 55-1-21(1) terminates when no living animal is covered by the trust. Source: SL 2018, ch 275, §4.
SD Codified L § 55-1-21.3 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-21.3 - Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.

55-1-21.3. Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.If the court finds that the fulfillment of the purposes are or have become impossible, inexpedient, or unlawful, the court shall make an order directing that the trust be administered in such manner as, in the judgment of the court, will, as nearly as can be, accomplish the general purposes, the objects, and intentions of the trustor. Source: SL 2018, ch 275, §6.
SD Codified L § 55-1-21.4 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-21.4 - Enforcement of purpose of trust by enforcer.

55-1-21.4. Enforcement of purpose of trust by enforcer.The purposes of a purpose trust shall be enforced by an enforcer designated in the governing instrument. An enforcer may demand reasonable information related to the administration of the trust from the trustee, including a periodic accounting. If no enforcer or successor enforcer is acting pursuant to the terms of the governing instrument the court shall appoint one or more enforcers and successor enforcers. No purpose trust may fail for want of an enforcer. An enforcer may petition for, consent to, waive, or object to any matter regarding a purpose trust with regard to the purpose of the trust which the enforcer represents or concerning the administration of the purpose trust. An enforcer is a fiduciary whose duty is to enforce the trust's purpose as set forth in the governing instrument and, except as otherwise provided in the governing instrument, is entitled to reasonable compensation. An enforcer may also serve as a trust protector or a family advisor pursuant to chapter 55-1B. However, an enforcer may not serve as an enforcer while serving as a trustee or a distribution trust advisor of the same trust. Except as otherwise provided in the governing instrument, if more than one enforcer is acting, action may be taken by a majority of the enforcers. Source: SL 2018, ch 275, §7; SL 2020, ch 206, § 1.
SD Codified L § 55-1-21.5 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-21.5 - Removal of enforcer.

55-1-21.5. Removal of enforcer.A trustee may petition the court for the removal of an enforcer. An enforcer may be removed if the court finds:(1)The enforcer committed a serious breach of the enforcer's duty, or is unfit or unwilling to serve;(2)A significant and unjustified lack of cooperation or hostility between the enforcer and the trustee, trust protector, or trust advisor; or(3)There has been a substantial change in circumstances and removal of the enforcer would best serve the purpose or purposes of the trust.The governing instrument may provide different or additional procedures for the removal of an enforcer. Source: SL 2018, ch 275, §8; SL 2020, ch 206, § 2.
SD Codified L § 55-1-21.6 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-21.6 - Discretion of trustee of purpose trust.

55-1-21.6. Discretion of trustee of purpose trust.Except as otherwise provided in the governing instrument, a trustee of a purpose trust is vested with full discretion in:(1)Interpreting the purposes of the trust consistent with the terms of the governing instrument; and(2)Applying, distributing, or expending principal and income to further the trust's purposes. Source: SL 2018, ch 275, §9.
SD Codified L § 55-1-21.7 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-21.7 - Judicial designation of trustee--Order to carry out intent of trustor and purpose of trust.

55-1-21.7. Judicial designation of trustee--Order to carry out intent of trustor and purpose of trust.If no trustee is designated or no designated trustee is willing or able to serve, a court shall name a trustee. A court may order the transfer of the property to another trustee if required to ensure that the intended purposes are carried out or if no successor trustee is designated in the governing instrument or no designated successor trustee agrees to serve or is able to serve. A court may also make such other orders and determinations as are advisable to carry out the intent of the trustor and the purpose of §§55-1-20 to 55-1-22.6, inclusive. Source: SL 2018, ch 275, §10.
SD Codified L § 55-1-21.8 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-21.8 - Distribution of property upon termination of purpose of trust.

55-1-21.8. Distribution of property upon termination of purpose of trust.Upon termination of a purpose trust, the trustee shall distribute any remaining trust property as directed in the governing instrument. Only in the event that the governing instrument is silent shall the trustee, upon termination of a purpose trust, distribute any remaining trust property as follows:(1)If the trust was created in a nonresiduary clause in a testator's will and the will fails to direct the distribution of unexpended trust property, then under the residuary clause of the testator's will, and for the purposes of §29A-2-707, the residuary clause is treated as creating a future interest under the terms of a trust; and(2)Otherwise, to the trustor's heirs under §29A-2-711. Source: SL 2018, ch 275, §11.
SD Codified L § 55-1-21.9 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-21.9 - Filings, reports, accounting, separation of funds, appointment, and registration of purpose trust not required--Exceptions.

55-1-21.9. Filings, reports, accounting, separation of funds, appointment, and registration of purpose trust not required--Exceptions.Except as may be demanded by an enforcer under §55-1-21.4, ordered by the court or required by the governing instrument, no filings, reports, periodic accounting, separate maintenance of funds, appointment, or registration of a purpose trust are required. Source: SL 2018, ch 275, §12; SL 2020, ch 206, § 3.
SD Codified L § 55-1-21.10 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-21.10 - Trustee may not use principal and income other than for trust's purposes.

55-1-21.10. Trustee may not use principal and income other than for trust's purposes.Except as expressly provided otherwise in the trust instrument, no portion of the principal or income may be converted to the use of the trustee or to any use other than for the trust's purposes or the benefit of a covered animal. Source: SL 2018, ch 275, §13.
SD Codified L § 55-1-22 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-22 - Hybrid purpose trusts valid.

55-1-22. Hybrid purpose trusts valid.A hybrid purpose trust which meets the description of a purpose trust in §§55-1-20 to 55-1-21.10, inclusive, also includes one or more beneficiaries is valid and may be performed. Source: SL 2006, ch 247, §3; SL 2018, ch 275, §14.
SD Codified L § 55-1-22.1 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-22.1 - Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust.

55-1-22.1. Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust.In a hybrid purpose trust when the interests of the beneficiaries and purposes are concurrent, the trustee shall maintain not less than two separate shares, one for the beneficiaries; and a second for the purposes, and the trustee may be liable to the beneficiaries for the actual damages caused thereby, if any, for failing to do so. Source: SL 2018, ch 275, §15.
SD Codified L § 55-1-22.2 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-22.2 - Beneficiaries' share of a hybrid purpose trust.

55-1-22.2. Beneficiaries' share of a hybrid purpose trust.The beneficiaries' share of a hybrid purpose trust is governed by §§43-5-8 and 43-6-7. Source: SL 2018, ch 275, §16.
SD Codified L § 55-1-22.3 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-22.3 - Spendthrift provision in hybrid purpose trust--Qualified dispositions in trust.

55-1-22.3. Spendthrift provision in hybrid purpose trust--Qualified dispositions in trust.A hybrid purpose trust may:(1)Contain a spendthrift provision; and(2)Also qualify as a trust described in §55-16-2. Source: SL 2018, ch 275, §17.
SD Codified L § 55-1-22.4 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-22.4 - Application of §§ 55-1-21 to 55-1-21.9 to hybrid purpose trust--Exceptions.

55-1-22.4. Application of §§55-1-21 to 55-1-21.9 to hybrid purpose trust--Exceptions.The provisions of §§55-1-21 to 55-1-21.9, inclusive, apply to a hybrid purpose trust except that:(1)Under §55-1-21.1, except as otherwise provided in the governing instrument, a trust as described in subdivision 55-1-21(1) terminates when no living animal is covered by the trust unless the trust may continue for the benefit of the beneficiaries; and(2)Under §55-1-21.2, a court has no power to reduce the amount of trust property intended for or allocated to any beneficiaries or any charitable purposes. Source: SL 2018, ch 275, §18.
SD Codified L § 55-1-22.5 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-22.5 - Discretion of trustee of hybrid purpose trust.

55-1-22.5. Discretion of trustee of hybrid purpose trust.Except as otherwise provided in the governing instrument, a trustee of a hybrid purpose trust is vested with full discretion in administering the trust and considering the best interests of the beneficiaries and the purposes of the trust. Source: SL 2018, ch 275, §19.
SD Codified L § 55-1-22.6 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-22.6 - Enforcer of hybrid purpose trust.

55-1-22.6. Enforcer of hybrid purpose trust.In addition to §55-1-21.4, an enforcer may also not be a beneficiary of a hybrid purpose trust. Source: SL 2018, ch 275, §20.
SD Codified L § 55-1-24 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-24 - Definitions applicable to §§ 55-1-24 to 55-1-45.

55-1-24. Definitions applicable to §§55-1-24 to 55-1-45.Terms used in §§55-1-24 to 55-1-45, inclusive, mean:(1)"Beneficial interest," is limited to mean a distribution interest or a remainder interest. A beneficial interest specifically excludes a power of appointment or a power reserved by the settlor;(2)"Distribution beneficiary," a beneficiary who is an eligible distributee or permissible distributee of trust income or principal;(3)"Distribution interest," a distribution interest held by a distribution beneficiary. A distribution interest may be a current distribution interest or a future distribution interest. A distribution interest may be classified as a mandatory interest, a support interest, or a discretionary interest;(4)"Power of appointment," as defined in §55-1-12;(5)"Reach," with respect to a distribution interest or power, to subject the distribution interest or power to a judgment, decree, garnishment, attachment, execution, levy, creditor's bill or other legal, equitable, or administrative process, relief, or control of any court, tribunal, agency, or other entity as provided by law;(6)"Remainder interest," an interest where a trust beneficiary receives the property outright at some time during the future;(7)"Reserved power," a power held by the settlor. Source: SL 2007, ch 280, §1; SL 2008, ch 257, §2; SL 2009, ch 252, §2; SL 2011, ch 212, §30; SL 2015, ch 240, §10; SL 2016, ch 231, §10.
SD Codified L § 55-1-24.1 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-24.1 - Improper motive.

55-1-24.1. Improper motive.For purposes of §§55-1-24 to 55-1-45, inclusive, improper motive is demonstrated by action such as the following:(1)A trustee refusing to make or limiting distributions to beneficiaries other than the trustee due to the trustee's self interest when the trustee also holds a beneficial interest subject to a discretionary interest; or(2)A trustee making a distribution in excess of an ascertainable standard to himself or herself as beneficiary when the trustee is restricted by an ascertainable standard in the trust. Source: SL 2008, ch 257, §3; SL 2011, ch 212, §31.
SD Codified L § 55-1-24.2 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-24.2 - Withdrawal power.

55-1-24.2. Withdrawal power.A withdrawal power allows a person a right to withdraw all or some part of the trust property, whether from income or principal. The holder of a withdrawal power is not deemed to be the settlor of the trust by failing to exercise a withdrawal power or letting a withdrawal power lapse. Source: SL 2011, ch 212, §32; SL 2016, ch 231, §11.
SD Codified L § 55-1-25 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-25 - Distinction between discretionary trust and support trust--Creditor rights--Judicial review.

55-1-25. Distinction between discretionary trust and support trust--Creditor rights--Judicial review.The common law distinction between a discretionary trust and a support trust and the dual judicial review standards related to this distinction shall be maintained. In the area of creditor rights, the Restatement of Trusts (Third) and the Uniform Trust Code create many new positions of law as well as adopts many minority positions of law. The provisions of §§55-1-24 to 55-1-43, inclusive, affirmatively reject many of these positions. Therefore, the Legislature does not intend the courts to consult the Restatement (Third) of the Law of Trusts §50, §56, §58, §59, or §60 as approved by the American Law Institute or Uniform Trust Code Article 5 and Section 814(a) as approved by the National Conference of Commissioners on Uniform State Laws in 2004 with respect to subject matters addressed by the provisions of §§55-1-24 to 55-1-43, inclusive. Source: SL 2007, ch 280, §2; SL 2015, ch 240, §11.