reglab/housing_qa huggingface dataset:
SD Codified L § 55-8-17 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-17 - Uniformity of interpretation.

55-8-17. Uniformity of interpretation.This chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it. Source: SL 1961, ch 22, §10.
SD Codified L § 55-8-18 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-18 - Citation of chapter.

55-8-18. Citation of chapter.This chapter may be cited as the Uniform Act for the Simplification of Fiduciary Security Transfers. Source: SL 1961, ch 22, §11.
SD Codified L § 55-9-1 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-1 - Express trusts--Creation for charitable, educational, religious, or other public use.

55-9-1. Express trusts--Creation for charitable, educational, religious, or other public use.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. Source: SL 1955, ch 429, §1; SDC Supp 1960, §59.0601.
SD Codified L § 55-9-2 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-2 - Validity of trust not affected by uncertainty or violation of rule against perpetuities--Disposal of property by trustee.

55-9-2. Validity of trust not affected by uncertainty or violation of rule against perpetuities--Disposal of property by trustee.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. Source: SL 1955, ch 429, §2; SDC Supp 1960, §59.0602.
SD Codified L § 55-9-3 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-3 - Action to enforce charitable trust--Liberal construction to carry out intent--Notice of action to attorney general.

55-9-3. Action to enforce charitable trust--Liberal construction to carry out intent--Notice of action to attorney general.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.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 §21-22-18. Source: SL 1955, ch 429, §3; SDC Supp 1960, §59.0603; SL 2012, ch 233, §23.
SD Codified L § 55-9-4 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-4 - 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.

55-9-4. 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.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. Source: SL 1955, ch 429, §3; SDC Supp 1960, §59.0603.
SD Codified L § 55-9-5 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-5 - Enforcement by attorney general as representative of beneficiaries--Exception.

55-9-5. Enforcement by attorney general as representative of beneficiaries--Exception.Except as otherwise set forth in §55-9-3, 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. Source: SL 1955, ch 429, §3; SDC Supp 1960, §59.0603; SL 2012, ch 233, §24.
SD Codified L § 55-9-6 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-6 - Restrictions to avoid taxability of income--Definition of terms.

55-9-6. Restrictions to avoid taxability of income--Definition of terms.Terms as used in §§55-9-6 to 55-9-14, inclusive shall have the following meaning:(1)"Charitable trust," as defined in section 4947 (a)(1) of the Internal Revenue Code;(2)"Excess business holdings," as defined in section 4943 (c) of the Internal Revenue Code;(3)"Internal Revenue Code," the United States Internal Revenue Code of 1954, as amended;(4)"Private foundation," as defined in section 509 (a) of the Internal Revenue Code;(5)"Self-dealing," as defined in section 4941 (d) of the Internal Revenue Code;(6)"Split-interest," as defined in section 4947 (a)(2) of the Internal Revenue Code;(7)"Taxable expenditure," as defined in section 4945 (d) of the Internal Revenue Code;(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. Source: SL 1972, ch 259, §1.
SD Codified L § 55-9-7 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-7 - Restrictions deemed incorporated in instrument creating charitable trust or foundation.

55-9-7. Restrictions deemed incorporated in instrument creating charitable trust or foundation.Any will or trust instrument creating a trust which is a private foundation, charitable trust, or a split-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 §§55-9-8 to 55-9-12, inclusive, with respect to such trust and the trustee thereof, and, except as the contrary is provided in §§55-9-13 and 55-9-14, 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. Source: SL 1972, ch 259, §2.
SD Codified L § 55-9-8 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-8 - Self-dealing by trustee prohibited.

55-9-8. Self-dealing by trustee prohibited.The trustee of a trust described in §55-9-7 shall not engage in any act of self-dealing which would give rise to any liability for the tax imposed by section 4941 (a) of the Internal Revenue Code. Source: SL 1972, ch 259, §2 (2).
SD Codified L § 55-9-9 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-9 - Distributions required to avoid taxes.

55-9-9. Distributions required to avoid taxes.The trustee of a trust described in §55-9-7 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. Source: SL 1972, ch 259, §2 (1).
SD Codified L § 55-9-10 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-10 - Retention of excess business holdings prohibited.

55-9-10. Retention of excess business holdings prohibited.The trustee of a trust described in §55-9-7 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. Source: SL 1972, ch 259, §2 (3).
SD Codified L § 55-9-11 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-11 - Investments to jeopardize exempt purposes prohibited.

55-9-11. Investments to jeopardize exempt purposes prohibited.The trustee of a trust described in §55-9-7 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. Source: SL 1972, ch 259, §2 (4).
SD Codified L § 55-9-12 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-12 - Taxable expenditures prohibited.

55-9-12. Taxable expenditures prohibited.The trustee of a trust described in §55-9-7 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. Source: SL 1972, ch 259, §2 (5).
SD Codified L § 55-9-13 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-13 - Judicial determination that restrictive provisions are contrary to instrument creating trust.

55-9-13. Judicial determination that restrictive provisions are contrary to instrument creating trust.Sections 55-9-7 to 55-9-12, 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 §55-9-7 and that such will, trust instrument or other governing instrument may not be changed to conform to §§55-9-8 to 55-9-12, inclusive. Source: SL 1972, ch 259, §3.
SD Codified L § 55-9-14 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 09 - Charitable Trusts|Section 55-9-14 - State supervisory powers unimpaired by restrictions to avoid taxability of income.

55-9-14. State supervisory powers unimpaired by restrictions to avoid taxability of income.Nothing in §§55-9-6 to 55-9-13, inclusive, shall impair the rights and powers of the attorney general or the courts of this state with respect to any trust. Source: SL 1972, ch 259, §4.
SD Codified L § 55-10A-1 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 10A - Uniform Transfers To Minors Act|Section 55-10A-1 - Definitions.

55-10A-1. Definitions.Terms used in this chapter mean:(1)"Adult," a person who has attained the age of eighteen years;(2)"Benefit plan," an employer's plan for the benefit of an employee or partner;(3)"Broker," a person lawfully engaged in the business of effecting transactions in securities or commodities for the person's own account or for the account of others;(4)"Conservator," a person appointed or qualified by a court to act as general, limited or temporary conservator of a minor's property or a person legally authorized to perform substantially the same functions;(5)"Custodial property," any interest in property transferred to a custodian under this chapter and the income from and proceeds of that interest in property;(6)"Custodian," a person so designated under §55-10A-9 or a successor or substitute custodian designated under §55-10A-18;(7)"Financial institution," a bank, trust company, savings institution or credit union, chartered and supervised under state or federal law;(8)"Legal representative," an individual's personal representative or conservator;(9)"Member of the minor's family," the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of the whole or half blood or by adoption;(10)"Minor," a person who has not attained the age of eighteen years;(11)"Personal representative," an executor, administrator, successor personal representative or special administrator of a decedent's estate or a person legally authorized to perform substantially the same functions;(11A)"Qualified minor's trust," a trust, including a trust created by a custodian, of which a minor is the sole income beneficiary and that satisfies the requirements of Section 2503(c) of the Federal Internal Revenue Code of 1986 and the regulations implementing that section;(12)"State," includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States;(13)"Transfer," a transaction that creates custodial property under §55-10A-9;(14)"Transferor," a person who makes a transfer under this chapter; and(15)"Trust company," a financial institution, corporation or other legal entity, authorized to exercise general trust powers. Source: SL 1986, ch 409, §1; SL 1993, ch 213, §256; SL 2008, ch 257, §13.
SD Codified L § 55-10A-2 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 10A - Uniform Transfers To Minors Act|Section 55-10A-2 - Scope and jurisdiction.

55-10A-2. Scope and jurisdiction.This chapter applies to any transfer that refers to this chapter in the designation under §55-10A-9 by which the transfer is made if at the time of the transfer, the transferor, the minor or the custodian is a resident of this state or the custodial property is located in this state. The custodianship so created remains subject to this chapter despite a subsequent change in residence of a transferor, the minor, or the custodian or the removal of custodial property from this state. A person designated as custodian under this chapter is subject to personal jurisdiction in this state with respect to any matter relating to the custodianship. A transfer that purports to be made and which is valid under the Uniform Transfers to Minors Act, the Uniform Gifts to Minors Act or a substantially similar act, of another state is governed by the law of the designated state and may be executed and is enforceable in this state if at the time of the transfer, the transferor, the minor or the custodian is a resident of the designated state or the custodial property is located in the designated state. Source: SL 1986, ch 409, §2.
SD Codified L § 55-10A-3 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 10A - Uniform Transfers To Minors Act|Section 55-10A-3 - Nomination of custodian.

55-10A-3. Nomination of custodian.Any person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian followed in substance by the words: "as custodian for __________________________ (name of minor) under the South Dakota Uniform Transfers to Minors Act." The nomination may name one or more persons as substitute custodians to whom the property must be transferred, in the order named, if the first nominated custodian dies before the transfer or is unable, declines or is ineligible to serve. The nomination may be made in a will, a trust, a deed, an instrument exercising a power of appointment, or in a writing designating a beneficiary of contractual rights which is registered with or delivered to the payor, issuer or other obligor of the contractual rights. A custodian nominated under this section shall be a person to whom a transfer of property of that kind may be made under §55-10A-9. The nomination of a custodian under this section does not create custodial property until the nominating instrument becomes irrevocable or a transfer to the nominated custodian is completed under §55-10A-9. Unless the nomination of a custodian has been revoked, upon the occurrence of the future event the custodianship becomes effective and the custodian shall enforce a transfer of the custodial property pursuant to §55-10A-9. Source: SL 1986, ch 409, §3.
SD Codified L § 55-10A-4 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 10A - Uniform Transfers To Minors Act|Section 55-10A-4 - Transfer by gift or exercise of power of appointment.

55-10A-4. Transfer by gift or exercise of power of appointment.Any person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to §55-10A-9. Source: SL 1986, ch 409, §4.
SD Codified L § 55-10A-5 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 10A - Uniform Transfers To Minors Act|Section 55-10A-5 - Transfer authorized by will or trust.

55-10A-5. Transfer authorized by will or trust.Any personal representative or trustee may make an irrevocable transfer pursuant to §55-10A-9, to a custodian for the benefit of a minor as authorized in the governing will or trust. If the testator or settlor has nominated a custodian under §55-10A-3, to receive the custodial property, the transfer must be made to that person. If the testator or settlor has not nominated a custodian under §55-10A-3, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under §55-10A-9. Source: SL 1986, ch 409, §5.
SD Codified L § 55-10A-6 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 10A - Uniform Transfers To Minors Act|Section 55-10A-6 - Other transfer by fiduciary.

55-10A-6. Other transfer by fiduciary.A transfer under subdivisions (1) or (2) may be made only if the personal representative, trustee or conservator considers the transfer to be in the best interest of the minor, the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement or other governing instrument and the transfer is authorized by the court if it exceeds ten thousand dollars in value; and:(1)A personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to §55-10A-9, in the absence of a will or under a will or trust that does not contain an authorization to do so; or(2)A conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to §55-10A-9. Source: SL 1986, ch 409, §6.
SD Codified L § 55-10A-7 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 10A - Uniform Transfers To Minors Act|Section 55-10A-7 - Transfer by obligor.

55-10A-7. Transfer by obligor.Subject to subdivisions (1) and (2), any person not subject to §55-10A-5 or 55-10A-6, who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to §55-10A-9:(1)If a person having the right to do so under §55-10A-3, has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person; or(2)If no custodian has been nominated under §55-10A-3, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer under this section may be made to an adult member of the minor's family or to a trust company unless the property exceeds ten thousand dollars in value. Source: SL 1986, ch 409, §7.
SD Codified L § 55-10A-8 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 10A - Uniform Transfers To Minors Act|Section 55-10A-8 - Receipt for custodial property.

55-10A-8. Receipt for custodial property.A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to this chapter. Source: SL 1986, ch 409, §8.
SD Codified L § 55-10A-10 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 10A - Uniform Transfers To Minors Act|Section 55-10A-10 - Designation of initial custodian.

55-10A-10. Designation of initial custodian.An instrument in the following form satisfies the requirements of subdivisions 55-10A-9(1)(a) and (7):TRANSFER UNDER THE SOUTH DAKOTA UNIFORM TRANSFERS TO MINORS ACTI, ______________ (name of transferor or name and representative capacity if a fiduciary) hereby transfer to ______________ (name of custodian), as custodian for ______________ (name of minor) under the South Dakota Uniform Transfers to Minors Act, the following: (insert a description of the custodial property sufficient to identify it).Dated: __________________________________________(Signature)______________ (name of custodian) acknowledges receipt of the property described above as custodian for the minor named above under the (Name of Enacting State) Uniform Transfers to Minors Act.Dated: __________________________________________(Signature of Custodian) Source: SL 1986, ch 409, §10.
SD Codified L § 55-10A-11 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 10A - Uniform Transfers To Minors Act|Section 55-10A-11 - Control.

55-10A-11. Control.A transferor shall place the custodian in control of the custodial property as soon as practicable. Source: SL 1986, ch 409, §11.
SD Codified L § 55-10A-12 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 10A - Uniform Transfers To Minors Act|Section 55-10A-12 - Single custodianship.

55-10A-12. Single custodianship.A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship. Source: SL 1986, ch 409, §12.