reglab/housing_qa huggingface dataset:
SD Codified L § 55-1-46 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-46 - No contest clause defined--Enforceability.

55-1-46. No contest clause defined--Enforceability.For purposes of §§55-1-46 to 55-1-51, inclusive, a no contest clause is a provision or clause in a trust, that penalizes a qualified beneficiary for contesting a trust or instituting other proceedings at law or equity relating to the trust estate, excluding proceedings related to trust administration. Except as provided in §§55-1-47 to 55-1-51, inclusive, a no contest clause shall be enforced unless probable cause exists for instituting the proceeding on the grounds of:(1)Fraud;(2)Duress;(3)Revocation;(4)Lack of contractual capacity;(5)Undue influence;(6)Mistake;(7)Forgery; or(8)Irregularity in the execution of the trust document. Source: SL 2012, ch 233, §8.
SD Codified L § 55-1-47 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-47 - Extrinsic evidence not admissible to establish settlor's intent concerning no contest clause.

55-1-47. Extrinsic evidence not admissible to establish settlor's intent concerning no contest clause.A no contest clause shall be construed to carry out the settlor's intent. Except to the extent the no contest clause in the trust is vague or ambiguous, extrinsic evidence is not admissible to establish the settlor's intent concerning the no contest clause. The provisions of this section do not prohibit such evidence from being admitted for any other purpose authorized by law. Source: SL 2012, ch 233, §9.
SD Codified L § 55-1-48 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-48 - Circumstances under which no contest clause unenforceable.

55-1-48. Circumstances under which no contest clause unenforceable.A no contest clause is not enforceable against a beneficiary to the extent the beneficiary, in good faith and based upon probable cause, contests a provision that benefits any of the following persons:(1)A person who drafted or transcribed the instrument;(2)A person who gave directions to the drafter of the instrument concerning dispositive or other substantive contents of the provisions or who directed the drafter to include the no contest clause in the instrument. However, this subdivision does not apply if the settlor affirmatively instructed the drafter to include the contents of the provision or the no contest clause; or(3)A person who acted as a witness to the instrument. Source: SL 2012, ch 233, §10.
SD Codified L § 55-1-49 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-49 - Contest regarding settlor's signature.

55-1-49. Contest regarding settlor's signature.Notwithstanding anything to the contrary in §§55-1-46 to 55-1-51, inclusive, a no contest clause is enforceable against a beneficiary to the extent the beneficiary elects to contest or otherwise challenge the settlor's signature whereby such a challenge does not in any manner constitute good, probable, or reasonable cause if the settlor's signature was witnessed by nonrelative witnesses or a duly qualified nonrelative notary public or both. Source: SL 2012, ch 233, §11.
SD Codified L § 55-1-50 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-50 - Attorneys fees and costs.

55-1-50. Attorneys fees and costs.The court may award attorneys fees and costs to the prevailing party in an action involving the enforceability of a no contest provision. Source: SL 2012, ch 233, §12.
SD Codified L § 55-1-51 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-51 - Applicability of §§ 55-1-46 to 55-1-50.

55-1-51. Applicability of §§55-1-46 to 55-1-50.Sections 55-1-46 to 55-1-50, inclusive, are effective for all trusts in existence on, created, amended, or restated after July 1, 2012. Source: SL 2012, ch 233, §13; SL 2013, ch 239, §12.
SD Codified L § 55-1-52 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-52 - Interest on general pecuniary devises.

55-1-52. Interest on general pecuniary devises.General pecuniary devises bear interest at the Category B rate of interest as provided in §54-3-16 beginning one year after the event requiring a distribution until payment, unless a contrary intent is indicated by the terms of the trust. Source: SL 2013, ch 239, §15.
SD Codified L § 55-1-53 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-53 - Expansion, restriction, elimination, or variance of provisions of general application.

55-1-53. Expansion, restriction, elimination, or variance of provisions of general application.The terms of a governing instrument may expand, restrict, eliminate, or otherwise vary any provisions of general application to trusts and trust administration. Nothing in this section allows the terms of the governing instrument to expand, restrict, eliminate, or otherwise vary the duties, restrictions, and liabilities imposed by the provisions of §§55-4-11 and 55-4-12. Source: SL 2015, ch 240, §14; SL 2018, ch 275, §21.
SD Codified L § 55-1-54 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-54 - Arbitration.

55-1-54. Arbitration.In addition to the trustee's power to submit to an arbitration claim in favor of or against a trust or trustee as set forth in §55-1A-25, a provision in a trust requiring the arbitration of a dispute between or among the beneficiaries, a fiduciary under the will or trust, or any combination of them, is enforceable pursuant to the provisions of chapter 21-25A. Unless otherwise provided in the governing instrument or a court order, the arbitration shall be held in this state. Notwithstanding the foregoing, a challenge to the validity of all or part of the trust is not subject to arbitration. Any proceeding pursuant to this section is subject, upon request by the acting trustee, the trustor, if living, or any beneficiary, to the privacy protections of §21-22-28. The arbitrator shall grant the request, if made. Source: SL 2015, ch 240, §15.
SD Codified L § 55-1-55 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-55 - Trust enforceable although not funded or without res, corpus, or assets.

55-1-55. Trust enforceable although not funded or without res, corpus, or assets.A trust is valid and enforceable even though it may not be funded at a given time, or from time to time, or does not initially have any res or corpus or otherwise contain any asset of any nature. A trust is valid and enforceable even though its res is neither ascertainable nor identifiable at the time of the trust's creation. No trustee, trust protector, or trust advisor has any duty prior to the time a trust has a res, corpus, or any asset. Source: SL 2016, ch 231, §14.
SD Codified L § 55-1-56 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-56 - Registration of trust in court at principal place of administration.

55-1-56. Registration of trust in court at principal place of administration.The trustee of a trust that has its principal place of administration in this state may register the trust in the court of this state at the principal place of administration. Unless otherwise designated in the trust instrument, the principal place of administration of a trust is the trustee's place of business where the records pertaining to the trust are kept, or at the trustee's residence if the trustee has no such place of business. In the case of co-trustees, the principal place of administration, if not otherwise designated in the trust instrument, is:(1)The place of business of the corporate trustee if there is only one corporate co-trustee;(2)The place of business or residence of the individual trustee who is a professional fiduciary if there is only one such person and no corporate co-trustee; or(3)The place of business or residence of any of the co-trustees as agreed upon by the co-trustees. Source: SL 2017, ch 204, §8.
SD Codified L § 55-1-57 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-57 - Contents of registration statement.

55-1-57. Contents of registration statement.Registration shall be accomplished by filing a statement indicating the name and address of the trustee in which it acknowledges the trusteeship. The statement shall indicate whether the trust has been registered elsewhere.The statement shall identify the trust:(1)In the case of a testamentary trust, by the name of the testator and the date and place of domiciliary probate; or in the case of a written inter vivos trust, by the name of each settlor and the original trustee and the date of the trust instrument; (2) If a trust has been registered elsewhere, registration in this state is ineffective until either the earlier registration is released by order of the court where prior registration occurred or an instrument executed by the trustee and all current income or principal beneficiaries is filed with the registration in this state;(3)The name and address of each co-trustee, trust advisor, trust protector, or other trust fiduciary;(4)A statement that the trustee acknowledges the trusteeship and submits to the jurisdiction of the court in any proceeding relating to the trust that may be initiated by any interested person while the trust remains registered, providing that notice is given as provided by law. Source: SL 2017, ch 204, §9.
SD Codified L § 55-1-58 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-58 - Confidentiality of registration.

55-1-58. Confidentiality of registration.The registration shall be sealed and kept confidential except as provided below.The settlor, a trustee, trust advisor, or trust protector may obtain a certified copy of the registration but no other person or entity, absent a court order, may view or obtain a copy of the trust registration.The registration may be cancelled by the clerk of courts upon receipt of an instrument executed by the trustee and all current income and principal beneficiaries or upon receipt of a court order. Source: SL 2017, ch 204, §10.
SD Codified L § 55-1-59 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01 - Classification And Creation Of Trusts|Section 55-1-59 - Trust registration form.

55-1-59. Trust registration form.The trust registration form may be substantially similar to the following form: State of Court Dakota _______________ Judicial CircuitCounty of _______________________________Trust Registration No. _______________REGISTRATION OF TRUSTName of Trust:______________________________________________________________________________Name & Address of Trustee:______________________________________________________________________________Name & Address of Co-Trustees:______________________________________________________________________________Names and Address of any trust advisors, trust protectors or other trust fiduciaries:______________________________________________________________________________Trustee hereby acknowledges this trusteeship and submits to the jurisdiction of the court in any proceeding relating to the trust that may be initiated by any interested person while the trust remains registered, providing that notice is given as provided by law.The trust (has) (has not) been registered in another jurisdiction. (If registered elsewhere, state where other registration was made.)______________________________________________________________________________Note: If a trust has been registered elsewhere, registration in this state is ineffective until either the earlier registration is released by order of the court where prior registration occurred or an instrument executed by the trustee and all current income and principal beneficiaries is filed with the registration in this state.The trust is: (Check one and fill in the blanks.)A testamentary trust. ____ Name of testator:__________________________________________________Date and place of domiciliary probate:__________A written inter vivos trust. ____ Name of settlor:__________________________________________________Name of original trustee:__________________________________________________Date of trust instrument:__________________________________________________Trustee's Signature __________________________________Date:___________________________Trustee's Signature __________________________________Date:___________________________Registered in the Circuit Court, _____ Judicial Circuit on ____________________ , 20______ .___________________________________________Circuit Court Clerk Source: SL 2017, ch 204, §11.
SD Codified L § 55-1A-1 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-1 - Powers enumerated in chapter apply to any trust unless specifically excluded--Powers as additional to common law powers.

55-1A-1. Powers enumerated in chapter apply to any trust unless specifically excluded--Powers as additional to common law powers.Any or all of the powers enumerated in this chapter apply to any trust which is governed by South Dakota law unless the instrument specifically excludes any or all of the powers provided in this chapter. Further, this chapter applies without regard to the date of execution or whether such trust was created by will or inter vivos trust instrument. These powers shall be in addition to, and not in limitation of, all other common law or statutory powers of a trustee. Such powers are applicable to a trustee authorized to administer a trust estate established or to be established pursuant to the terms of a will or other written instrument, with the same effect, and subject to the same judicial interpretation and control in appropriate cases, as though such language were set forth verbatim in the instrument. Source: SL 1979, ch 336, §2; SL 2002, ch 100, §10.
SD Codified L § 55-1A-2 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-2 - Trustee defined.

55-1A-2. Trustee defined.As used in this chapter, the word, trustee, means any natural or legal person or persons acting as an original, substitute, added, or successor trustee of a testamentary or inter vivos trust, whichever in a particular case is appropriate. Source: SL 1979, ch 336, §1.
SD Codified L § 55-1A-5 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-5 - Retention of trust property by trustee.

55-1A-5. Retention of trust property by trustee.A trustee may collect, hold, and retain trust assets until, in his judgment, disposition of the assets should be made, without regard to any effect the retention may have upon the diversification of the trust estate. Trust property may be retained even though it includes an asset in which its trustee is personally interested. Source: SL 1979, ch 336, §5.
SD Codified L § 55-1A-6 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-6 - Additions to trust assets.

55-1A-6. Additions to trust assets.A trustee may receive additions to the assets of his trust from any source. Source: SL 1979, ch 336, §6.
SD Codified L § 55-1A-7 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-7 - Operation of business by trustee.

55-1A-7. Operation of business by trustee.A trustee may continue or participate in the operation of any business or other enterprise, and effect the incorporation, dissolution, or other change in the form of the organization of the business or enterprise. Source: SL 1979, ch 336, §7.
SD Codified L § 55-1A-8 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-8 - Acquisition of undivided interest in trust asset.

55-1A-8. Acquisition of undivided interest in trust asset.A trustee may acquire an undivided interest in a trust asset in which he, in any trust capacity, holds an undivided interest. Source: SL 1979, ch 336, §8.
SD Codified L § 55-1A-9 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-9 - Investment of trust assets.

55-1A-9. Investment of trust assets.A trustee may invest and reinvest trust assets in any property or in an undivided interest in any property, wherever located, including bonds, debentures, secured or unsecured notes, preferred or common stock of corporations, real estate or improvements thereon or any interest therein, oil and mineral leases or royalty or similar interests, and interests in trusts including investment trusts and common trust funds maintained by a corporate trustee and any affiliated investments as defined in §55-1A-9.1. Any such investments may be made, regardless of any lack of diversification. Source: SL 1979, ch 336, §9; SL 1993, ch 354; SL 2007, ch 247, §6.
SD Codified L § 55-1A-10 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-10 - Deposit of trust funds in bank.

55-1A-10. Deposit of trust funds in bank.A trustee may deposit trust funds in a bank, including a bank operated by himself, or in a state or federal savings and loan association. Source: SL 1979, ch 336, §10.
SD Codified L § 55-1A-11 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-11 - Disposal of trust assets.

55-1A-11. Disposal of trust assets.A trustee may acquire, sell, or otherwise dispose of an asset, at public or private sale, for cash or on credit, with or without security as he deems advisable, and he may manage, develop, exchange, partition, change the character of, or abandon a trust asset or any interest therein. Source: SL 1979, ch 336, §11.
SD Codified L § 55-1A-12 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-12 - Grant or taking of option for disposition of assets.

55-1A-12. Grant or taking of option for disposition of assets.A trustee may grant an option for the sale or other disposition of a trust asset, or take an option for the acquisition of any asset. Source: SL 1979, ch 336, §12.
SD Codified L § 55-1A-13 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-13 - Leases by trustees.

55-1A-13. Leases by trustees.A trustee may enter into a lease as lessor or lessee, with or without an option to purchase or renew, even if the term of the lease or renewal thereof, or of the option, extends beyond the term of the trust. Source: SL 1979, ch 336, §13.
SD Codified L § 55-1A-14 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-14 - Repairs by trustee--Removal or demolition.

55-1A-14. Repairs by trustee--Removal or demolition.A trustee may make ordinary or extraordinary repairs, improvements, or alterations in buildings or other structures or in any other trust asset, and he may remove or demolish any improvements. Source: SL 1979, ch 336, §14.
SD Codified L § 55-1A-15 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-15 - Razing or erection of party walls or buildings.

55-1A-15. Razing or erection of party walls or buildings.A trustee may raze existing, or erect new, party walls or buildings, alone or jointly with owners of adjacent property. Source: SL 1979, ch 336, §15.
SD Codified L § 55-1A-16 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-16 - Land development or dedication--Valuation adjustments.

55-1A-16. Land development or dedication--Valuation adjustments.A trustee may subdivide, develop or dedicate land to public use; make or obtain the vacation of plats and adjust boundaries; adjust differences in valuation on the exchange or partition of land by giving or receiving consideration; or dedicate easements to public use without consideration. Source: SL 1979, ch 336, §16.
SD Codified L § 55-1A-17 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-17 - Mineral and natural resource leases and explorations.

55-1A-17. Mineral and natural resource leases and explorations.A trustee may enter into a lease or arrangement for the exploration for and removal of oil, gas and other minerals or other natural resources, and he may enter into pooling and unitization agreements. Source: SL 1979, ch 336, §17.
SD Codified L § 55-1A-18 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-18 - Insurance.

55-1A-18. Insurance.A trustee may insure the assets of his trust against damage or loss, and the trustee against liability to third persons. Source: SL 1979, ch 336, §18.
SD Codified L § 55-1A-19 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-19 - Voting stock or securities--Voting trust agreements.

55-1A-19. Voting stock or securities--Voting trust agreements.A trustee may vote shares of stock or other securities held in trust, in person or by general or limited proxy, and he may enter into voting trust agreements on such terms and for such periods as he deems advisable. Source: SL 1979, ch 336, §19.
SD Codified L § 55-1A-20 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-20 - Payment of calls, assessments, and other sums charged against corporate securities.

55-1A-20. Payment of calls, assessments, and other sums charged against corporate securities.A trustee may pay calls, assessments, and any other sums chargeable or accruing against or on account of shares of stock, bonds, debentures, or other corporate securities held in trust. Source: SL 1979, ch 336, §20.
SD Codified L § 55-1A-21 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-21 - Corporate powers--Stocks--Reorganizations and mergers--Sales and leases.

55-1A-21. Corporate powers--Stocks--Reorganizations and mergers--Sales and leases.A trustee may sell or exercise stock subscription or conversion rights; participate in foreclosures, reorganizations, consolidations, mergers or liquidations; and consent, directly or through a committee or other agent, to corporate sales, leases and encumbrances. In the exercise of such powers a trustee may, where he deems such course to be expedient, deposit stocks, bonds or other securities with any protective or other similar committee, under such terms and conditions respecting the deposit thereof as the trustee may approve. Source: SL 1979, ch 336, §21.
SD Codified L § 55-1A-22 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 01A - Trustees Powers|Section 55-1A-22 - Holding stock in nominee's name without disclosing fiduciary relationship.

55-1A-22. Holding stock in nominee's name without disclosing fiduciary relationship.A trustee may hold any stock or other security in the name of a nominee or nominees, without disclosure of any fiduciary relationship, but he shall be liable for any and all acts and omissions of the nominee relating to such assets. Source: SL 1979, ch 336, §22.