reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-38.1 - Classification of interest as support interest.

55-1-38.1. Classification of interest as support interest.
If a trust instrument containing the distribution language specifically provides that the trustee exercise discretion in a reasonable manner with regard to a discretionary interest, then notwithstanding any other provision of §§55-1-38 to 55-1-43, inclusive, the distribution interest shall be classified as a support interest. A beneficiary's right to a distribution as well as a creditor's right regarding a beneficiary's support interest is governed by §55-1-42.
Source:
SL 2009, ch 252, §8.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-39 - Bifurcation of trust.

55-1-39. Bifurcation of trust.
To the extent a trust contains any combination of a mandatory provision, a support provision, the trust shall be bifurcated as follows:
(1)The trust shall be a mandatory interest only to the extent of the mandatory language;
(2)The trust shall be a support interest only to the extent of such support language;
(3)The remaining trust property shall be held as a discretionary interest;
(4)A support interest that includes mandatory language such as "shall" but is subsequently qualified by discretionary language, shall be classified as a discretionary interest and not as a support interest.
Source:
SL 2007, ch 280, §16.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-40 - Language resulting in classification of distribution interest.

55-1-40. Language resulting in classification of distribution interest.
Although not the exclusive means to create a distribution interest, absent clear and convincing evidence to the contrary, the following language by itself results in the following classification of distribution interest:
(1)Mandatory interest:
(a)"All income shall be distributed to (named beneficiary)"; or
(b)"One hundred thousand dollars a year shall be distributed to (named beneficiary)";
(2)Support interest:
(a)"The trustee shall make distributions for health, education, maintenance, and support";
(3)Discretionary interest:
(a)"The trustee, may, in the trustee's sole and absolute discretion make distributions for health, education, maintenance, and support";
(b)"The trustee, in the trustee's sole and absolute discretion, shall make distributions for health, education, maintenance, and support";
(c)"The trustee may make distributions for health, education, maintenance, and support";
(d)"The trustee shall make distributions for health, education, maintenance, and support. The trustees may exclude any of the beneficiaries or may make unequal distributions among them";
(e)"The trustee may make distributions for health, education, maintenance, support, comfort, and general welfare.
Source:
SL 2007, ch 280, §17; SL 2008, ch 257, §7.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-41 - Effect of spendthrift provision.

55-1-41. Effect of spendthrift provision.
If the trust contains a spendthrift provision, no creditor may reach present or future mandatory distributions from the trust at the trust level. Moreover, no court may order a trustee to distribute past due mandatory distributions directly to a creditor.
Source:
SL 2007, ch 280, §18; SL 2009, ch 252, §9.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-42 - Mandatory or support interests.

55-1-42. Mandatory or support interests.
A beneficiary of a mandatory or a support interest has an enforceable right to a distribution pursuant to a court's review. A trustee's distribution decision may be reviewed for unreasonableness, dishonesty, improper motivation, or failure, if under a duty to do so, to act. This does not, however, raise the beneficiary's support interest to the level of a property interest.
If the trust contains a spendthrift provision, notwithstanding the beneficiary's right to force a distribution with regard to a mandatory or support interest, no creditor may force a distribution with regard to a mandatory or support interest. No creditor may reach present or future support distributions with regard to a mandatory or support interest.
Regardless of whether a beneficiary has any outstanding creditor, a trustee of a mandatory or a support interest may directly pay any expense on behalf of such beneficiary. No trustee is liable to any creditor for paying the expenses of a beneficiary of a mandatory or support interest.
Source:
SL 2007, ch 280, §19; SL 2008, ch 257, §8; SL 2009, ch 252, §10.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-43 - Discretionary interests.

55-1-43. Discretionary interests.
The following provisions apply only to discretionary interests:
(1)A discretionary interest is neither a property interest nor an enforceable right. It is a mere expectancy;
(2)No creditor may force a distribution with regard to a discretionary interest. No creditor may require the trustee to exercise the trustee's discretion to make a distribution with regard to a discretionary interest;
(3)A court may review a trustee's distribution discretion only if the trustee:
(a)Acts dishonestly;
(b)Acts with an improper motive; or
(c)Fails, if under a duty to do so, to act.
A reasonableness standard may not be applied to the exercise of discretion by the trustee with regard to a discretionary interest. Other than for the three circumstances listed in this subdivision, a court has no jurisdiction to review the trustee's discretion or to force a distribution.
Absent express language to the contrary, in the event that the distribution language in a discretionary interest permits unequal distributions between beneficiaries or distributions to the exclusion of other beneficiaries, the trustee may distribute all of the accumulated, accrued, or undistributed income and principal to one beneficiary in the trustee's discretion.
Regardless of whether a beneficiary has any outstanding creditor, a trustee of a discretionary interest may directly pay any expense on behalf of such beneficiary and may exhaust the income and principal of the trust for the benefit of such beneficiary. No trustee is liable to any creditor for paying the expenses of a beneficiary of a discretionary interest.
Source:
SL 2007, ch 280, §20; SL 2009, ch 252, §11.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-44 - Action for fraudulent transfer of settlor's assets--Jurisdiction--Attorneys' fees and costs--Burden of proof.

55-1-44. Action for fraudulent transfer of settlor's assets--Jurisdiction--Attorneys' fees and costs--Burden of proof.
Notwithstanding any other provision of law, no action of any kind, including an action to enforce a judgment entered by a court or other body having adjudicative authority, may be brought at law or in equity for an attachment or other provisional remedy against property that is the subject of a South Dakota trust or for avoidance of a transfer to a South Dakota trust unless the settlor's transfer of property was made with the intent to defraud that specific creditor. A court of this state has exclusive jurisdiction over an action brought under a claim for relief that is based on a transfer of property to a trust that is the subject of this section. A court of this state may award attorneys' fees and costs to the prevailing party in such an action. In any action described in this section, the burden to prove the matter by clear and convincing evidence is upon the creditor.
Source:
SL 2011, ch 212, §36; SL 2020, ch 206, § 5.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-45 - Limitation of action for fraudulent transfer of settlor's assets.

55-1-45. Limitation of action for fraudulent transfer of settlor's assets.
A cause of action or claim for relief with respect to a fraudulent transfer of a settlor's assets pursuant to §55-1-44 is extinguished unless the action under §55-1-44 is brought by a creditor of the settlor who meets one of the following requirements:
(1)Is a creditor of the settlor before the settlor's assets are transferred to the trust, and the action under §55-1-44 is brought within the later of:
(a)Two years after the transfer is made; or
(b)Six months after the transfer is or reasonably could have been discovered by the creditor if the creditor:
(i)Can demonstrate that the creditor asserted a specific claim against the settlor before the transfer; or
(ii)Files another action, other than an action under §55-1-44, against the settlor that asserts a claim based on an act or omission of the settlor that occurred before the transfer, and the action described in this subsection is filed within two years after the transfer; or
(2)Becomes a creditor subsequent to the transfer into trust, and the action under §55-1-44 is brought within two years after the transfer is made.
Source:
SL 2011, ch 212, §37; SL 2013, ch 239, §23; SL 2020, ch 206, § 6.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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 Circuit
County of _______________________________
Trust Registration No. _______________
REGISTRATION OF TRUST
Name 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-23 - Borrowing money against trust assets.

55-1A-23. Borrowing money against trust assets.
A trustee may borrow money, and mortgage or otherwise encumber or pledge trust assets, for a term within or extending beyond the term of his trust, in connection with the exercise of any power vested in himself.
Source:
SL 1979, ch 336, §23.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-24 - Contracts binding upon trust.

55-1A-24. Contracts binding upon trust.
A trustee may enter into contracts binding upon his trust which are reasonably incident to the administration of the trust and which he believes to be for the best interests of the trust.
Source:
SL 1979, ch 336, §24.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-25 - Claims in favor of or against trust or trustee.

55-1A-25. Claims in favor of or against trust or trustee.
A trustee may pay, compromise, contest, submit to arbitration, or otherwise settle any and all claims in favor of or against his trust or himself as trustee.
Source:
SL 1979, ch 336, §25.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-26 - Release of claim or lien.

55-1A-26. Release of claim or lien.
A trustee may release, in whole or in part, any claim or lien belonging to his trust.
Source:
SL 1979, ch 336, §26.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-27 - Payment of trust administration expenses.

55-1A-27. Payment of trust administration expenses.
A trustee may pay taxes, assessments, compensation of himself, and other expenses incurred in the collection, care, administration and protection of his trust.
Source:
SL 1979, ch 336, §27.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-28 - Creation of reserves.

55-1A-28. Creation of reserves.
A trustee may create reserves out of income for depreciation, obsolescence, or amortization, or for the depletion of mineral or timber properties.
Source:
SL 1979, ch 336, §28.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-29 - Payment of sum distributable to minor or other beneficiary under legal disability--Methods.

55-1A-29. Payment of sum distributable to minor or other beneficiary under legal disability--Methods.
A trustee may make payment of any sum distributable to a minor or other beneficiary under legal disability, without liability to himself, by paying the sum in any one or more of the following ways:
(1)Directly to the beneficiary;
(2)To the conservator of the beneficiary;
(3)Directly for the maintenance, education and general welfare of the beneficiary;
(4)To a parent of the beneficiary; or
(5)To anyone who has custody and care of the person of the beneficiary.
Source:
SL 1979, ch 336, §29; SL 1993, ch 213, §253.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-30 - Distribution of property and money.

55-1A-30. Distribution of property and money.
A trustee may effect distribution of property and money in divided or undivided interests, and adjust the resulting differences in valuation.
Source:
SL 1979, ch 336, §30.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-31 - Employment of agents and assistants.

55-1A-31. Employment of agents and assistants.
A trustee may employ attorneys, accountants, investment advisors, agents or other persons, even if they are associated with himself, to advise or assist himself in the performance of his duties; act without independent investigation upon their recommendations; and instead of acting personally, employ one or more agents to perform any act of administration, whether or not such act is discretionary.
Source:
SL 1979, ch 336, §31.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-32 - Prosecution or defense of actions and proceedings.

55-1A-32. Prosecution or defense of actions and proceedings.
A trustee may prosecute or defend actions, claims or proceedings for the protection of trust assets or of the trustee in the performance of the trustee's duties. However, a trustee has no duty to prosecute, or to defend or continue to defend the trust or its assets in any action, through exercise of judicial process or otherwise, to reach the assets of the trust in satisfaction of a claim against the trust, a beneficiary or the settlor of a trust unless:
(1)The trustee is reasonably satisfied that the readily marketable assets of the trust are sufficient to fully indemnify the trustee for all the liabilities and expenses, including professional fees and expense of counsel, accountants, and expert witnesses, that the trustee may incur in so prosecuting or defending the trust or its assets; or
(2)If the trustee is not satisfied that the settlor or the beneficiaries have provided the trustee with indemnity, supported with such security as may be satisfactory to the trustee in its sole discretion, as is then and will be sufficient to fully indemnify the trustee.
Unless otherwise provided in the trust agreement, a trustee who is no longer serving due to resignation or removal, whether by judicial process or pursuant to the trust agreement, or as a result of the trust terminating, does not have a duty to defend or continue to prosecute or defend the trust or its assets in any action, whether the trust is in existence or not at the time of such action.
Source:
SL 1979, ch 336, §32; SL 2017, ch 204, §13; SL 2021, ch 207, § 11.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-32.1 - Trustee immunity from liability for failure to prosecute, defend, or continue to defend.

55-1A-32.1. Trustee immunity from liability for failure to prosecute, defend, or continue to defend.
If the trustee fails to prosecute, defend, or continue to defend the trust or its assets because the conditions set forth in subdivision 55-1A-32(1) or (2) have not been fulfilled, the trustee is not liable for any such failure even if the failure, including without limitation a withdrawal from a proceeding, may result in the granting or awarding of relief against the trustee or the trust, including without limitation a distribution of trust assets in satisfaction of a claim.
For purposes of chapter 55-1A, the term, prosecute, or, defend or continue to defend, means:
(1)Instituting, participating in, intervening in or defending a lawsuit, action in equity or administrative, arbitration or mediation proceeding (collectively a proceeding); or
(2)Taking any other action to resist such claim.
This section and §55-1A-32 control unless the governing instrument specifically provides otherwise.
Source:
SL 2017, ch 204, §14.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-33 - Advance of income or loan to beneficiary--Lien.

55-1A-33. Advance of income or loan to beneficiary--Lien.
A trustee may advance income or make loans out of trust property to a beneficiary on terms and conditions the trustee considers to be fair and reasonable under the circumstances, for which such advance or loan the trustee shall have a lien on the future benefits of such beneficiary.
Source:
SL 1979, ch 336, §33; SL 2011, ch 212, §18.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-34 - Advance of money for protection of trust--Lien.

55-1A-34. Advance of money for protection of trust--Lien.
A trustee may advance money for the protection of his trust or its assets, and for all expenses and liabilities sustained or incurred in or about the administration or protection of the trust, or because of the holding or ownership of any trust assets. Such trustee shall have a lien on the trust assets and may reimburse himself, with interest, out of the trust assets for the advances.
Source:
SL 1979, ch 336, §34.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-35 - Execution and delivery of instruments.

55-1A-35. Execution and delivery of instruments.
A trustee may execute and deliver all instruments which will accomplish or facilitate the exercise of the powers vested in himself.
Source:
SL 1979, ch 336, §35.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-35.1 - Electronic execution of documents.

55-1A-35.1. Electronic execution of documents.
If otherwise validly executed, the following documents may be executed in accordance with chapter 53-12:
(1)The governing instrument of an express trust, or other document, other than a will or codicil as defined in title 29A;
(2)The resignation, removal, appointment, or acceptance of appointment of any trustee, any advisor or protector, or of any designated representation addressed in title 55;
(3)A consent, release, ratification, or indemnification addressed in title 55; and
(4)Any other document addressed by title 55 to the extent it is not excluded from the scope of chapter 53-12.
Notwithstanding any provision of chapter 53-12 to the contrary, the documents under this section are deemed to be a transaction within the meaning of subdivision 53-12-1(17) and are within the scope of chapter 53-12.
Source: SL 2023, ch 161, §5.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-36 - Holding of two or more trusts with undivided interests.

55-1A-36. Holding of two or more trusts with undivided interests.
A trustee may hold two or more trusts or parts of trusts created by the same instrument, as an undivided whole, without separation between such trusts or parts of such trusts; provided that, such separate trusts or parts of such trusts shall have undivided interests and that no such holding shall defer the vesting of any estate in possession or otherwise.
Source:
SL 1979, ch 336, §36.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-38 - Trustee may perform necessary and appropriate acts.

55-1A-38. Trustee may perform necessary and appropriate acts.
A trustee may perform such other acts, which, in the judgment of the trustee, may be necessary or appropriate for the proper management, investment, and distribution of the trust estate.
Source:
SL 1998, ch 282, §37.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-39 - Disclaimer of powers by trustee--Time limit.

55-1A-39. Disclaimer of powers by trustee--Time limit.
Any power granted to a trustee in any written trust instrument may be disclaimed by that trustee in the manner provided by law for disclaimers, but without regard to the time limits provided by law for disclaimers. Upon such disclaimer, the powers so disclaimed shall cease to exist as to that trustee.
Source:
SL 1998, ch 282, §39.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01A - Trustees Powers › Section 55-1A-40 - Trust name change.

55-1A-40. Trust name change.
A trustee may change the name of an irrevocable trust if the trustee deems such action to be in the best interests of the trust and its beneficiaries.
Source:
SL 2011, ch 212, §13.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01B - Directed Trusts › Section 55-1B-1.1 - Governing instrument may provide trust advisor or trust protector with powers and immunities of trustee.

55-1B-1.1. Governing instrument may provide trust advisor or trust protector with powers and immunities of trustee.
Any governing instrument providing for a trust advisor or trust protector may also provide such trust advisor or trust protector with some, none, or all of the rights, powers, privileges, benefits, immunities, or authorities available to a trustee under South Dakota law or under the governing instrument. Unless the governing instrument provides otherwise, a trust advisor or trust protector has no greater liability to any person than would a trustee holding or benefiting from the rights, powers, privileges, benefits, immunities, or authority provided or allowed by the governing instrument to such trust advisor or trust protector.
Source:
SL 2011, ch 212, §4.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01B - Directed Trusts › Section 55-1B-3 - Death of grantor.

55-1B-3. Death of grantor.
An excluded fiduciary may continue to follow the direction of the trust advisor upon the incapacity or death of the grantor if the instrument so allows.
Source:
SL 1997, ch 280, §3.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01B - Directed Trusts › Section 55-1B-4 - Trust advisor as fiduciary.

55-1B-4. Trust advisor as fiduciary.
If one or more trust advisors are given authority by the terms of a governing instrument to direct, consent to, or disapprove a fiduciary's investment or distribution decisions, or proposed investment or distribution decisions, such trust advisors shall be considered to be fiduciaries when exercising such authority. For investment decisions, so long as there is at least one fiduciary exercising the authority of the investment advisor pursuant to §55-1B-10 for the investment, except in the cases of willful misconduct or gross negligence by the fiduciary investment advisor in the selection or monitoring of the nonfiduciary trust advisors, the governing instrument may provide that such other trust advisors acting pursuant to this section are not acting in a fiduciary capacity. Similarly, for distribution decisions, so long as there is at least one fiduciary exercising the authority of the distribution advisor pursuant to § 55-1B-11 for the distribution, except in the case of willful misconduct or gross negligence by the fiduciary distribution advisor in the selection or monitoring of the nonfiduciary trust advisors, the governing instrument may provide that such other trust advisors acting pursuant to this section are not acting in a fiduciary capacity.
Source:
SL 1997, ch 280, §4; SL 2018, ch 275, §24; SL 2021, ch 207, § 9.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01B - Directed Trusts › Section 55-1B-5 - Excluded fiduciary's liability for loss if trust protector appointed.

55-1B-5. Excluded fiduciary's liability for loss if trust protector appointed.
If an instrument appoints a trust protector, the excluded fiduciary is not liable for any loss resulting from any action taken upon such trust protector's direction.
Source:
SL 1997, ch 280, §5.