reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 54 - Debtor and Creditor › Chapter 16 - Credit Reporting Security Freeze For Protected Consumers › Section 54-16-2 - Security freeze for protected consumer upon request to consumer reporting agency by protected consumer's representative.

54-16-2. Security freeze for protected consumer upon request to consumer reporting agency by protected consumer's representative.
A consumer reporting agency shall place a security freeze for a protected consumer if the agency receives a request from the protected consumer's representative for the placement of the security freeze under this section and the protected consumer's representative:
(1)Submits the request to the agency in the manner specified by the agency;
(2)Provides to the agency sufficient proof of identification of the protected consumer and the representative;
(3)Provides to the agency sufficient proof of authority to act on behalf of the protected consumer; and
(4)Pays to the agency a fee as provided in §54-16-9.
If a consumer reporting agency does not have a file pertaining to a protected consumer when the consumer reporting agency receives a request under this section, the consumer reporting agency shall create a record for the protected consumer.
Source:
SL 2016, ch 230, §2.
2023 South Dakota Codified Laws › Title 54 - Debtor and Creditor › Chapter 16 - Credit Reporting Security Freeze For Protected Consumers › Section 54-16-3 - Application of chapter.

54-16-3. Application of chapter.
This chapter does not apply to the use of a protected consumer's credit report or record by:
(1)A person administering a credit file monitoring subscription service to which the protected consumer has subscribed or the representative of the protected consumer has subscribed on behalf of the protected consumer;
(2)A person providing the protected consumer or the protected consumer's representative with a copy of the protected consumer's credit report on request of the protected consumer or the protected consumer's representative; or
(3)A check services or fraud prevention services company that issues reports on incidents of fraud or authorizations for the purpose of approving or processing negotiable instruments, electronic funds transfers, or similar payment methods;
(4)A deposit account information service company that issues reports regarding account closures due to fraud, substantial overdrafts, automated teller machine abuse, or similar negative information regarding a consumer to inquiring financial institutions for use only in reviewing a consumer request for a deposit account at the inquiring financial institution;
(5)An insurance company for the purpose of conducting its ordinary business;
(6)A consumer reporting agency that acts only to resell credit information by assembling and merging information contained in a database of one or more consumer reporting agencies and does not maintain a permanent database of credit information from which new credit reports are produced; and
(7)A consumer reporting agency's database that consists of information used for criminal record information, fraud prevention or detection, personal loss history information, or employment, tenant, or individual background screening, but not for credit granting services.
Source:
SL 2016, ch 230, §3.
2023 South Dakota Codified Laws › Title 54 - Debtor and Creditor › Chapter 16 - Credit Reporting Security Freeze For Protected Consumers › Section 54-16-4 - Time for placing security freeze.

54-16-4. Time for placing security freeze.
Within thirty days after receiving a request that meets the requirements of this chapter, a consumer reporting agency shall place a security freeze for the protected consumer.
Source:
SL 2016, ch 230, §4.
2023 South Dakota Codified Laws › Title 54 - Debtor and Creditor › Chapter 16 - Credit Reporting Security Freeze For Protected Consumers › Section 54-16-5 - Release of report or information prohibited.

54-16-5. Release of report or information prohibited.
Unless a security freeze for a protected consumer is removed in accordance with §54-16-7 or 54-16-10, a consumer reporting agency may not release the protected consumer's credit report, any information derived from the protected consumer's credit report, or any record created for the protected consumer.
Source:
SL 2016, ch 230, §5.
2023 South Dakota Codified Laws › Title 54 - Debtor and Creditor › Chapter 16 - Credit Reporting Security Freeze For Protected Consumers › Section 54-16-6 - Duration of security freeze.

54-16-6. Duration of security freeze.
A security freeze for a protected consumer placed under §54-16-4 shall remain in effect until:
(1)The protected consumer or the protected consumer's representative requests the consumer reporting agency to remove the security freeze in accordance with §54-16-7; or
(2)The security freeze is removed in accordance with §54-16-10.
Source:
SL 2016, ch 230, §6.
2023 South Dakota Codified Laws › Title 54 - Debtor and Creditor › Chapter 16 - Credit Reporting Security Freeze For Protected Consumers › Section 54-16-7 - Request for removal of security freeze.

54-16-7. Request for removal of security freeze.
If a protected consumer or a protected consumer's representative wishes to remove a security freeze for the protected consumer, the protected consumer or the protected consumer's representative shall submit a request for the removal of the security freeze to the consumer reporting agency in the manner specified by the agency. If the request is made by the protected consumer, the requestor shall provide to the consumer reporting agency proof that the authority for the protected consumer's representative is no longer valid and sufficient proof of the identification of the protected consumer. If the request is made by the protected consumer's representative, the requestor shall provide to the consumer reporting agency sufficient proof of identification of the protected consumer and the representative, and sufficient proof of authority to act on behalf of the protected consumer.
The requestor shall pay to the consumer reporting agency a fee as provided in §54-16-9.
Source:
SL 2016, ch 230, §7.
2023 South Dakota Codified Laws › Title 54 - Debtor and Creditor › Chapter 16 - Credit Reporting Security Freeze For Protected Consumers › Section 54-16-8 - Time for removal of security freeze upon request.

54-16-8. Time for removal of security freeze upon request.
Within thirty days after receiving a request that meets the requirements of §54-16-7, the consumer reporting agency shall remove the security freeze for the protected consumer.
Source:
SL 2016, ch 230, §8.
2023 South Dakota Codified Laws › Title 54 - Debtor and Creditor › Chapter 16 - Credit Reporting Security Freeze For Protected Consumers › Section 54-16-9 - Fees of consumer reporting agency.

54-16-9. Fees of consumer reporting agency.
A consumer reporting agency may charge a reasonable fee, not exceeding five dollars, for each placement or removal of a security freeze for a protected consumer. However, no consumer reporting agency may charge a fee under this section if the protected consumer's representative provides a police report or affidavit of alleged identity fraud against the protected consumer to the consumer reporting agency, or a request for the placement or removal of a security freeze is for a protected consumer who is under the age of sixteen years at the time of the request, and the agency has a consumer report pertaining to the protected consumer. No consumer reporting agency may charge a fee for any other service performed under this chapter.
Source:
SL 2016, ch 230, §9.
2023 South Dakota Codified Laws › Title 54 - Debtor and Creditor › Chapter 16 - Credit Reporting Security Freeze For Protected Consumers › Section 54-16-10 - Removal of security freeze based on material misrepresentation.

54-16-10. Removal of security freeze based on material misrepresentation.
A consumer reporting agency may remove a security freeze for a protected consumer or delete a record of a protected consumer if the security freeze was placed or the record was created based on a material misrepresentation of fact by the protected consumer or the protected consumer's representative.
Source:
SL 2016, ch 230, §10.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-1 - Purposes for which trust may be created.

55-1-1. Purposes for which trust may be created.
Except as otherwise prescribed by chapters 43-4 and 43-25 relating to transfers, a trust may be created for any purpose for which a contract may lawfully be made.
Source:
CivC 1877, §1293; CL 1887, §3916; RCivC 1903, §1612; RC 1919, §1190; SDC 1939 §59.0104; SL 2017, ch 204, §4.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-3 - Express trust defined.

55-1-3. Express trust defined.
An express trust is an obligation arising out of a personal confidence reposed in and voluntarily accepted by one for the benefit of another.
Source:
SDC 1939, §59.0101.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-4 - Creation of express trust--Words or acts of trustor.

55-1-4. Creation of express trust--Words or acts of trustor.
An express trust is created as to the trustor and beneficiary by any words or acts of the trustor indicating with reasonable certainty:
(1)An intention on the part of the trustor to create a trust; and
(2)The subject, purpose, and beneficiary of the trust.
Any express trust that concerns real property shall also be evidenced in writing.
Source:
SDC 1939, §59.0105; SL 2017, ch 204, §5.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-5 - Express trust created as to trustee--Words and acts of trustee.

55-1-5. Express trust created as to trustee--Words and acts of trustee.
An express trust is created as to the trustee by any words or acts of his, indicating with reasonable certainty:
(1)His acceptance of the trust or his acknowledgment, made upon sufficient consideration, of its existence; and
(2)The subject, purpose, and beneficiary thereof.
Source:
SDC 1939, §59.0105.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-5.1 - Express trust need not be for exclusive benefit of beneficiaries.

55-1-5.1. Express trust need not be for exclusive benefit of beneficiaries.
The terms of an express trust need not be for the exclusive benefit of its beneficiaries, whether or not the beneficiaries are ascertainable.
Source:
SL 2017, ch 204, §7.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-6 - Implied trust--Definition--Creation.

55-1-6. Implied trust--Definition--Creation.
An implied trust is one which is created by operation of law. An implied trust arises in the cases described in §§55-1-7 to 55-1-10, inclusive.
Source:
SDC 1939, §§59.0101, 59.0102.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-6.1 - Implied trust may not prejudice rights of real property purchaser or encumbrancer.

55-1-6.1. Implied trust may not prejudice rights of real property purchaser or encumbrancer.
No implied trust may prejudice the rights of a purchaser or encumbrancer of real property for value and without notice of the trust.
Source:
SL 2017, ch 204, §6.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-7 - Wrongful detention creates implied trust.

55-1-7. Wrongful detention creates implied trust.
One who wrongfully detains a thing is an implied trustee thereof for the benefit of the owner.
Source:
SDC 1939, §59.0102 (1).
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-8 - Implied trust resulting from fraud, accident or wrongful act.

55-1-8. Implied trust resulting from fraud, accident or wrongful act.
One who gains a thing by fraud, accident, mistake, undue influence, the violation of a trust or other wrongful act, is, unless he has some other and better right thereto, an implied trustee of the thing gained for the benefit of the person who would otherwise have had it.
Source:
SDC 1939, §59.0102 (2).
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-9 - Implied trust created by transfer of property in violation of trust.

55-1-9. Implied trust created by transfer of property in violation of trust.
Everyone to whom property is transferred in violation of a trust holds the same as an implied trustee under such trust, unless he purchased it in good faith and for a valuable consideration.
Source:
SDC 1939, §59.0102 (3).
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-10 - Transfer of real property to one for money paid by another--Trust presumed.

55-1-10. Transfer of real property to one for money paid by another--Trust presumed.
When a transfer of real property is made to one person and the consideration therefor is paid by or for another, a trust is presumed to result in favor of the person by or for whom such payment is made.
Source:
SDC 1939, §59.0102 (4).
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-11 - Implied trust--Declaration by court of equity.

55-1-11. Implied trust--Declaration by court of equity.
The enumeration in §§55-1-7 to 55-1-10, inclusive, of cases wherein an implied trust arises does not exclude or prevent the arising of an implied trust in other cases nor prevent a court of equity from establishing and declaring an implied, resulting, or constructive trust in other cases and instances pursuant to the custom and practice of such courts.
Source:
SDC 1939, §59.0102.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-12 - Trustor, trustee, beneficiary, power of appointment, and person defined.

55-1-12. Trustor, trustee, beneficiary, power of appointment, and person defined.
The person whose confidence creates a trust is called the trustor; the person in whom the confidence is reposed is called the trustee; and the person for whose benefit the trust is created is called the beneficiary. As used in this title, except as specifically provided in chapters 55-13 and 55-13A, the term, beneficiary, means a person that has a present or future beneficial interest in a trust, vested or contingent. A person is not a beneficiary solely by reason of holding a power of appointment or by reason of the existence or exercise of a discretionary power described in §55-1-36.1 with respect to the person. As used in this title, except as provided in §55-1-26, the term, power of appointment, means a power, including a withdrawal power as defined in §55-1-24.2, to direct the disposition of trust property, but does not include the authority of a trustee to make a distribution to a beneficiary. A power of appointment is held by the person to whom the power has been given and once granted to a person, is not capable of appropriation or of manual delivery. A power of appointment is a general power of appointment if it is exercisable in favor of the person holding the power, the person's estate, the person's creditors, or the creditors of the person's estate, whether or not the power is also exercisable in favor of others. A power of appointment is a nongeneral power of appointment if it is not a general power of appointment. A holder of a general or nongeneral power of appointment may not be deemed a fiduciary unless otherwise provided for in the trust instrument. As used in this chapter, the term, person, has the meaning set forth in §55-4-1.
Source:
SDC 1939, §59.0103; SL 1998, ch 282, §40; SL 2015, ch 240, §9; SL 2016, ch 231, §9; SL 2021, ch 207, § 12.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-13 - Voluntary trustee--Assumption of relationship.

55-1-13. Voluntary trustee--Assumption of relationship.
Everyone who voluntarily assumes a relation of personal confidence with another is deemed a trustee within the meaning of this chapter and chapter 55-2 not only as to the person who reposes such confidence, but also as to all persons of whose affairs he thus acquires information which was given to such person in the like confidence or over whose affairs he, by such confidence, obtains any control.
Source:
SDC 1939, §59.0103.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-14 - Interest in existing trust--Transfer by operation of law or written instrument.

55-1-14. Interest in existing trust--Transfer by operation of law or written instrument.
An interest in an existing trust can be transferred only by operation of law or by a written instrument subscribed by the person making the transfer or by his agent.
Source:
SDC 1939, §59.0118.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-15 - Certain trusts not terminated upon trustor's death.

55-1-15. Certain trusts not terminated upon trustor's death.
A trust which provides for one or more successor beneficiaries upon the death of the trustor is not invalid, merged or terminated if:
(1)There is a trustor who is the sole trustee and the sole beneficiary during the trustor's lifetime; or
(2)There are two or more trustors, one or more of whom is trustee, and the beneficial interest of the trust is in one or more of the trustors during the lifetime of the trustors.
Source:
SL 1991, ch 395, §1.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-20 - Trusts for noncharitable purposes.

55-1-20. Trusts for noncharitable purposes.
Subdivisions 55-1-4(2) and 55-1-5(2) notwithstanding, a purpose trust may be performed pursuant to this section and §§55-1-21 to 55-1-22.6, inclusive, if the trust is for a lawful noncharitable purpose or purposes. Any property may form a part or all of the trust estate, including some, all, or an interest in some or all of the property that is the subject or purpose of a purpose trust. A governing instrument of such a trust shall be liberally construed in favor of its validity to presume against the merely precatory or honorary nature of the disposition and to carry out the trustor's intent. If necessary, extrinsic evidence is admissible to determine the trustor's intent. Neither the common law rule against perpetuities, nor any rule restricting the accumulation of income, nor any common law rule limiting the duration of noncharitable purpose trusts is in force in this state.
Source:
SL 2006, ch 247, §1; SL 2008, ch 257, §1; SL 2011, ch 212, §40; SL 2018, ch 275, §2.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-21 - Trust for care of animal, care of other property, or other lawful noncharitable purpose.

55-1-21. Trust for care of animal, care of other property, or other lawful noncharitable purpose.
The following purpose trusts are valid:
(1)A trust for the care of a designated animal or animals;
(2)A trust for the care, maintenance, promotion, continuation, conservation, upkeep, protection, furtherance, or preservation of any other property; and
(3)A trust for any other lawful noncharitable purpose or purposes.
Source:
SL 2006, ch 247, §2; SL 2018, ch 275, §3.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-21.1 - Termination of trust for care of animal.

55-1-21.1. Termination of trust for care of animal.
Except as otherwise provided in the governing instrument, a trust described in subdivision 55-1-21(1) terminates when no living animal is covered by the trust.
Source:
SL 2018, ch 275, §4.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-21.3 - Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.

55-1-21.3. Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.
If the court finds that the fulfillment of the purposes are or have become impossible, inexpedient, or unlawful, the court shall make an order directing that the trust be administered in such manner as, in the judgment of the court, will, as nearly as can be, accomplish the general purposes, the objects, and intentions of the trustor.
Source:
SL 2018, ch 275, §6.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-21.4 - Enforcement of purpose of trust by enforcer.

55-1-21.4. Enforcement of purpose of trust by enforcer.
The purposes of a purpose trust shall be enforced by an enforcer designated in the governing instrument. An enforcer may demand reasonable information related to the administration of the trust from the trustee, including a periodic accounting. If no enforcer or successor enforcer is acting pursuant to the terms of the governing instrument the court shall appoint one or more enforcers and successor enforcers. No purpose trust may fail for want of an enforcer. An enforcer may petition for, consent to, waive, or object to any matter regarding a purpose trust with regard to the purpose of the trust which the enforcer represents or concerning the administration of the purpose trust. An enforcer is a fiduciary whose duty is to enforce the trust's purpose as set forth in the governing instrument and, except as otherwise provided in the governing instrument, is entitled to reasonable compensation. An enforcer may also serve as a trust protector or a family advisor pursuant to chapter 55-1B. However, an enforcer may not serve as an enforcer while serving as a trustee or a distribution trust advisor of the same trust. Except as otherwise provided in the governing instrument, if more than one enforcer is acting, action may be taken by a majority of the enforcers.
Source:
SL 2018, ch 275, §7; SL 2020, ch 206, § 1.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-21.5 - Removal of enforcer.

55-1-21.5. Removal of enforcer.
A trustee may petition the court for the removal of an enforcer. An enforcer may be removed if the court finds:
(1)The enforcer committed a serious breach of the enforcer's duty, or is unfit or unwilling to serve;
(2)A significant and unjustified lack of cooperation or hostility between the enforcer and the trustee, trust protector, or trust advisor; or
(3)There has been a substantial change in circumstances and removal of the enforcer would best serve the purpose or purposes of the trust.
The governing instrument may provide different or additional procedures for the removal of an enforcer.
Source:
SL 2018, ch 275, §8; SL 2020, ch 206, § 2.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-21.6 - Discretion of trustee of purpose trust.

55-1-21.6. Discretion of trustee of purpose trust.
Except as otherwise provided in the governing instrument, a trustee of a purpose trust is vested with full discretion in:
(1)Interpreting the purposes of the trust consistent with the terms of the governing instrument; and
(2)Applying, distributing, or expending principal and income to further the trust's purposes.
Source:
SL 2018, ch 275, §9.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-21.7 - Judicial designation of trustee--Order to carry out intent of trustor and purpose of trust.

55-1-21.7. Judicial designation of trustee--Order to carry out intent of trustor and purpose of trust.
If no trustee is designated or no designated trustee is willing or able to serve, a court shall name a trustee. A court may order the transfer of the property to another trustee if required to ensure that the intended purposes are carried out or if no successor trustee is designated in the governing instrument or no designated successor trustee agrees to serve or is able to serve. A court may also make such other orders and determinations as are advisable to carry out the intent of the trustor and the purpose of §§55-1-20 to 55-1-22.6, inclusive.
Source:
SL 2018, ch 275, §10.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-21.8 - Distribution of property upon termination of purpose of trust.

55-1-21.8. Distribution of property upon termination of purpose of trust.
Upon termination of a purpose trust, the trustee shall distribute any remaining trust property as directed in the governing instrument. Only in the event that the governing instrument is silent shall the trustee, upon termination of a purpose trust, distribute any remaining trust property as follows:
(1)If the trust was created in a nonresiduary clause in a testator's will and the will fails to direct the distribution of unexpended trust property, then under the residuary clause of the testator's will, and for the purposes of §29A-2-707, the residuary clause is treated as creating a future interest under the terms of a trust; and
(2)Otherwise, to the trustor's heirs under §29A-2-711.
Source:
SL 2018, ch 275, §11.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-21.9 - Filings, reports, accounting, separation of funds, appointment, and registration of purpose trust not required--Exceptions.

55-1-21.9. Filings, reports, accounting, separation of funds, appointment, and registration of purpose trust not required--Exceptions.
Except as may be demanded by an enforcer under §55-1-21.4, ordered by the court or required by the governing instrument, no filings, reports, periodic accounting, separate maintenance of funds, appointment, or registration of a purpose trust are required.
Source:
SL 2018, ch 275, §12; SL 2020, ch 206, § 3.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-21.10 - Trustee may not use principal and income other than for trust's purposes.

55-1-21.10. Trustee may not use principal and income other than for trust's purposes.
Except as expressly provided otherwise in the trust instrument, no portion of the principal or income may be converted to the use of the trustee or to any use other than for the trust's purposes or the benefit of a covered animal.
Source:
SL 2018, ch 275, §13.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-22 - Hybrid purpose trusts valid.

55-1-22. Hybrid purpose trusts valid.
A hybrid purpose trust which meets the description of a purpose trust in §§55-1-20 to 55-1-21.10, inclusive, also includes one or more beneficiaries is valid and may be performed.
Source:
SL 2006, ch 247, §3; SL 2018, ch 275, §14.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-22.1 - Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust.

55-1-22.1. Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust.
In a hybrid purpose trust when the interests of the beneficiaries and purposes are concurrent, the trustee shall maintain not less than two separate shares, one for the beneficiaries; and a second for the purposes, and the trustee may be liable to the beneficiaries for the actual damages caused thereby, if any, for failing to do so.
Source:
SL 2018, ch 275, §15.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-22.2 - Beneficiaries' share of a hybrid purpose trust.

55-1-22.2. Beneficiaries' share of a hybrid purpose trust.
The beneficiaries' share of a hybrid purpose trust is governed by §§43-5-8 and 43-6-7.
Source:
SL 2018, ch 275, §16.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-22.3 - Spendthrift provision in hybrid purpose trust--Qualified dispositions in trust.

55-1-22.3. Spendthrift provision in hybrid purpose trust--Qualified dispositions in trust.
A hybrid purpose trust may:
(1)Contain a spendthrift provision; and
(2)Also qualify as a trust described in §55-16-2.
Source:
SL 2018, ch 275, §17.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-22.4 - Application of §§55-1-21 to .9 to hybrid purpose trust--Exceptions.

55-1-22.4. Application of §§55-1-21 to 55-1-21.9 to hybrid purpose trust--Exceptions.
The provisions of §§55-1-21 to 55-1-21.9, inclusive, apply to a hybrid purpose trust except that:
(1)Under §55-1-21.1, except as otherwise provided in the governing instrument, a trust as described in subdivision 55-1-21(1) terminates when no living animal is covered by the trust unless the trust may continue for the benefit of the beneficiaries; and
(2)Under §55-1-21.2, a court has no power to reduce the amount of trust property intended for or allocated to any beneficiaries or any charitable purposes.
Source:
SL 2018, ch 275, §18.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-22.5 - Discretion of trustee of hybrid purpose trust.

55-1-22.5. Discretion of trustee of hybrid purpose trust.
Except as otherwise provided in the governing instrument, a trustee of a hybrid purpose trust is vested with full discretion in administering the trust and considering the best interests of the beneficiaries and the purposes of the trust.
Source:
SL 2018, ch 275, §19.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-22.6 - Enforcer of hybrid purpose trust.

55-1-22.6. Enforcer of hybrid purpose trust.
In addition to §55-1-21.4, an enforcer may also not be a beneficiary of a hybrid purpose trust.
Source:
SL 2018, ch 275, §20.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-24 - Definitions applicable to §§55-1-24 to 55-1-45.

55-1-24. Definitions applicable to §§55-1-24 to 55-1-45.
Terms used in §§55-1-24 to 55-1-45, inclusive, mean:
(1)"Beneficial interest," is limited to mean a distribution interest or a remainder interest. A beneficial interest specifically excludes a power of appointment or a power reserved by the settlor;
(2)"Distribution beneficiary," a beneficiary who is an eligible distributee or permissible distributee of trust income or principal;
(3)"Distribution interest," a distribution interest held by a distribution beneficiary. A distribution interest may be a current distribution interest or a future distribution interest. A distribution interest may be classified as a mandatory interest, a support interest, or a discretionary interest;
(4)"Power of appointment," as defined in §55-1-12;
(5)"Reach," with respect to a distribution interest or power, to subject the distribution interest or power to a judgment, decree, garnishment, attachment, execution, levy, creditor's bill or other legal, equitable, or administrative process, relief, or control of any court, tribunal, agency, or other entity as provided by law;
(6)"Remainder interest," an interest where a trust beneficiary receives the property outright at some time during the future;
(7)"Reserved power," a power held by the settlor.
Source:
SL 2007, ch 280, §1; SL 2008, ch 257, §2; SL 2009, ch 252, §2; SL 2011, ch 212, §30; SL 2015, ch 240, §10; SL 2016, ch 231, §10.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-24.1 - Improper motive.

55-1-24.1. Improper motive.
For purposes of §§55-1-24 to 55-1-45, inclusive, improper motive is demonstrated by action such as the following:
(1)A trustee refusing to make or limiting distributions to beneficiaries other than the trustee due to the trustee's self interest when the trustee also holds a beneficial interest subject to a discretionary interest; or
(2)A trustee making a distribution in excess of an ascertainable standard to himself or herself as beneficiary when the trustee is restricted by an ascertainable standard in the trust.
Source:
SL 2008, ch 257, §3; SL 2011, ch 212, §31.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-24.2 - Withdrawal power.

55-1-24.2. Withdrawal power.
A withdrawal power allows a person a right to withdraw all or some part of the trust property, whether from income or principal. The holder of a withdrawal power is not deemed to be the settlor of the trust by failing to exercise a withdrawal power or letting a withdrawal power lapse.
Source:
SL 2011, ch 212, §32; SL 2016, ch 231, §11.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-25 - Distinction between discretionary trust and support trust--Creditor rights--Judicial review.

55-1-25. Distinction between discretionary trust and support trust--Creditor rights--Judicial review.
The common law distinction between a discretionary trust and a support trust and the dual judicial review standards related to this distinction shall be maintained. In the area of creditor rights, the Restatement of Trusts (Third) and the Uniform Trust Code create many new positions of law as well as adopts many minority positions of law. The provisions of §§55-1-24 to 55-1-43, inclusive, affirmatively reject many of these positions. Therefore, the Legislature does not intend the courts to consult the Restatement (Third) of the Law of Trusts §50, §56, §58, §59, or §60 as approved by the American Law Institute or Uniform Trust Code Article 5 and Section 814(a) as approved by the National Conference of Commissioners on Uniform State Laws in 2004 with respect to subject matters addressed by the provisions of §§55-1-24 to 55-1-43, inclusive.
Source:
SL 2007, ch 280, §2; SL 2015, ch 240, §11.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-27 - Certain remainder interests not property interests.

55-1-27. Certain remainder interests not property interests.
Although a remainder interest may be an enforceable right, where it is not absolutely certain based on the language of the trust that the remainder interest will be distributed within one year, it may not be classified as a property interest. This section does not affect eligibility for any public assistance program administered by the Department of Social Services pursuant to §28-1-1.
Source:
SL 2007, ch 280, §4.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-28 - Interest of beneficiary or others not reachable by creditors.

55-1-28. Interest of beneficiary or others not reachable by creditors.
No creditor may reach an interest of a beneficiary or of any other person on the grounds that the beneficiary or other person holds, either alone or in conjunction with another person, either or both of the following:
(1)An unconditional or conditional power to remove a trustee; or
(2)An unconditional or conditional power to replace a trustee.
The powers to remove or replace a trustee are personal to the power holder. No court may order, direct, or otherwise compel a power holder to directly or indirectly exercise the power to remove or replace a trustee for the purpose of directly or indirectly satisfying, either in whole or in part, any claim or judgment against the power holder or a beneficiary.
The powers to remove or replace a trustee, whether exercisable alone or in conjunction with another person, are not a property interest.
No creditor may reach an interest of a beneficiary on the grounds that the beneficiary is also a trustee or a co-trustee and no court may foreclose against such an interest. No court may order, direct, or otherwise compel a distribution because the beneficiary is then serving as a trustee or co-trustee.
Source:
SL 2007, ch 280, §5; SL 2009, ch 252, §4; SL 2013, ch 239, §21.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-29 - Trust property not subject to personal obligations of trustee.

55-1-29. Trust property not subject to personal obligations of trustee.
Trust property is not subject to the personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.
Source:
SL 2007, ch 280, §6.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-30 - Distribution and remainder interests not relevant to division of marital property.

55-1-30. Distribution and remainder interests not relevant to division of marital property.
Neither a distribution interest nor a remainder interest are relevant in the equitable division of marital property.
Source:
SL 2007, ch 280, §7; SL 2008, ch 257, §4.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-31 - Resources of settlor's spouse to be considered in making distribution from support trust--Other beneficiary's resources need not be considered.

55-1-31. Resources of settlor's spouse to be considered in making distribution from support trust--Other beneficiary's resources need not be considered.
Unless otherwise provided in the trust, if the settlor's spouse is named as beneficiary, the settlor's spouse is still living, and the trust is classified as a support trust, then the trustee shall consider the resources of the settlor's spouse, including the settlor's obligation of support, prior to making a distribution. In all other cases, unless otherwise provided in the trust, the trustee need not consider the beneficiary's resources in determining whether a distribution should be made.
Source:
SL 2007, ch 280, §8; SL 2009, ch 252, §5; SL 2011, ch 212, §33.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-32 - Alter ego--Pierce the veil, dominion and control claims.

55-1-32. Alter ego--Pierce the veil, dominion and control claims.
Pierce the veil and dominion and control claims by a party are, in essence, a variation of the alter ego common law doctrine. This section covers all of these types of claims.
In the event that a party brings an action against a trustee, beneficiary, trust advisor, or trust protector under an alter ego claim, none of the following factors, alone or in combination, may be considered as resulting in the alter ego theory being applied to a trustee or the person who is claimed to be the alter ego:
(1)The settlor or a beneficiary serving as a trustee or a co-trustee as described in §55-1-28;
(2)The settlor or a beneficiary holds an unrestricted power to remove or replace a trustee;
(3)The settlor or a beneficiary is a trust administrator, a general partner of a partnership, a manager of a limited liability company, an officer of a corporation, or any other managerial function of any other type of entity, and part or all of the trust property consists of an interest in the entity;
(4)A person related by blood or adoption to the settlor or a beneficiary is appointed as trustee;
(5)The settlor's or a beneficiary's agent, accountant, attorney, financial advisor, or friend is appointed as trustee;
(6)A business associate is appointed as a trustee;
(7)A beneficiary holds any power of appointment over any or all of the trust property;
(8)The settlor holds a power to substitute property of equivalent value;
(9)The trustee may loan trust property to the settlor for less than a full and adequate rate of interest or without adequate security;
(10)The distribution language provides any discretion;
(11)The trust has only one beneficiary eligible for current distributions;
(12)A beneficiary serving as an investment trust advisor, as the role is defined in §55-1B-1;
(13)Isolated occurrences where the settlor has signed checks, made disbursements, or executed other documents related to the trust as a trustee, when in fact the settlor was not a trustee;
(14)Making any requests for distributions on behalf of beneficiaries;
(15)Making any requests to the trustee to hold, purchase, or sell any trust property; or
(16)A beneficiary serving as a trust protector or a trust advisor.
Source: SL 2007, ch 280, §9; SL 2009, ch 252, §6; SL 2012, ch 233, §20; SL 2023, ch 161, §3.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-35 - Trust declaration that beneficiary's interest subject to spendthrift trust--Payment of beneficiary expenses.

55-1-35. Trust declaration that beneficiary's interest subject to spendthrift trust--Payment of beneficiary expenses.
A declaration in a trust that the interest of a beneficiary shall be held subject to a spendthrift trust is sufficient to restrain voluntary or involuntary alienation of a beneficial interest by a beneficiary to the maximum extent provided by law. Regardless of whether a beneficiary has any outstanding creditor, a trustee of a spendthrift trust 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 spendthrift trust.
Source:
SL 2007, ch 280, §12; SL 2011, ch 212, §34.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-36 - Satisfaction of claims of settlor's creditors from trust estate if settlor is beneficiary.

55-1-36. Satisfaction of claims of settlor's creditors from trust estate if settlor is beneficiary.
If a settlor is also a beneficiary of the trust, and the transfer is a qualified transfer pursuant to chapter 55-16, the provisions of §§55-1-24 to 55-1-43, inclusive, also apply. Conversely, if the settlor is a beneficiary of the trust and the transfer is not a qualified transfer pursuant to chapter 55-16, a provision restraining the voluntary or involuntary transfer of the settlor's beneficial interest does not prevent the settlor's creditors from satisfying claims from the settlor's interest in the trust estate. However, a settlor's creditors may not satisfy their respective claims from an irrevocable trust if:
(1)The settlor has retained a beneficial interest that is contingent upon surviving the settlor's spouse such as an interest in an inter vivos marital deduction trust in which the interest of the settlor's spouse is treated as qualified terminable interest property under §2523(f) of the Internal Revenue Code of 1986 (26 U.S.C. §2523(f)), as amended, an interest in an inter vivos marital deduction trust that is treated as a general power of appointment trust for which a marital deduction would be allowed under §2523(a) and (e) of the Internal Revenue Code of 1986 (26 U.S.C. §2523(a) and (e)), as amended, and an interest in an inter vivos trust commonly known as a credit shelter trust that used all or a portion of the settlor's unified credit under §2505 of the Internal Revenue Code (26 U.S.C. §2505), as amended;
(2)The settlor may be named, by someone other than the settlor, as an additional beneficiary or from a class of persons that includes the settlor; or
(3)The settlor is a permissible object of the exercise of a power of appointment over trust property held by someone other than the settlor.
Source:
SL 2007, ch 280, §13; SL 2011, ch 212, §35; SL 2015, ch 240, §12; SL 2020, ch 206, § 4.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-36.1 - Effect on creditor claims of trustee discretionary powers to pay taxes or make reimbursements for taxes.

55-1-36.1. Effect on creditor claims of trustee discretionary powers to pay taxes or make reimbursements for taxes.
Regardless of whether a disposition is a qualified disposition pursuant to chapter 55-16, where a trustee is granted a discretionary power by the terms of the trust instrument, or any provision of law, to pay directly to any taxing authority, or to reimburse the person liable for, any tax imposed by a taxing authority on the person by reason of the person being treated as the owner of all or any portion of the trust property pursuant to §§671 to 678, inclusive, of the Internal Revenue Code of 1986, 26 U.S.C. §§671 to 678, inclusive, as of January 1, 2016, and the U.S. Treasury Regulations promulgated thereunder, as of January 1, 2016:
(1)A creditor of the person shall not satisfy a claim from the property of the trust solely because of the existence or exercise of the discretionary power; and
(2)The use of trust property to pay the tax shall not be deemed a distribution or transfer of trust property to the person for any purpose, and the amount paid from the trust to the taxing authority or to the person in reimbursement of the person's payment of the tax is not subject to the claims of a creditor of the person solely because of the existence or exercise of the discretionary power.
Source:
SL 2015, ch 240, §13; SL 2016, ch 231, §13.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-37 - Application of spendthrift provision.

55-1-37. Application of spendthrift provision.
A spendthrift provision applies to both distribution interests and remainder interests. A spendthrift provision is a material provision of a trust.
Source:
SL 2007, ch 280, §14; SL 2008, ch 257, §5.
2023 South Dakota Codified Laws › Title 55 - Fiduciaries and Trusts › Chapter 01 - Classification And Creation Of Trusts › Section 55-1-38 - Classification of distribution interest.

55-1-38. Classification of distribution interest.
A distribution interest can be classified in three ways:
(1)As a mandatory interest, which is a distribution interest, in which the timing of any distribution must occur within one year from the date the right to the distribution arises, and the trustee has no discretion in determining whether a distribution shall be made or the amount of such distribution;
(2)As a support interest, which is not a mandatory interest but still contains mandatory language such as "shall make distributions" and is coupled with a standard capable of judicial interpretation; or
(3)As a discretionary interest, which is any interest where a trustee has any discretion to make or withhold a distribution.
A discretionary interest may be evidenced by permissive language such as "may make distributions" or it may be evidenced by mandatory distribution language that is negated by the discretionary language of the trust, such as "the trustee shall make distributions in the trustee's sole and absolute discretion." An interest that includes mandatory distribution language such as "shall" but is subsequently qualified by discretionary distribution language shall be classified as a discretionary interest and not as a support or a mandatory interest. A discretionary interest is any interest that is not a mandatory or a support interest.
Source:
SL 2007, ch 280, §15; SL 2008, ch 257, §6; SL 2009, ch 252, §7.