Section 21-22-1 - Definition of termsTerms used in this chapter mean:
(1) "Beneficiary," any person beneficially interested in the trust, as defined in subdivision 55-1-24(1) or who has a direct financial interest in the trust, including a creditor or claimant with any rights or claimed rights against the trust estate if the creditor or claimant demonstrates a previously asserted specific claim against the trust estate;(2) "Court trust," any trust which is established or confirmed by the judgment, decree, or order of any court of record of this state or any foreign jurisdiction;(3) "Fiduciary," a trustee, custodian, enforcer, trust advisor, trust protector, or trust committee, as named in the governing instrument or order of court, regardless of whether such person is acting in a fiduciary or nonfiduciary capacity;(4) "Other trust," any trust which is not a court trust;(5) "Supervision," the supervision of the circuit court over the administration of a trust as provided in this chapter;(6) "Trustee," the trustee or trustees of any trust which may be supervised under this chapter.Supreme Court Rule 237, 1939; SDC 1939 & Supp 1960, § 33.2601; SL 2010, ch 232, §24; SL 2014, ch 226, §6; SL 2015, ch 240, §21; SL 2017, ch 204, §23; SL 2018, ch 275, §1.Amended by S.L. 2018, ch. 275,s. 1, eff. 7/1/2018.Amended by S.L. 2017, ch. 204,s. 23, eff. 7/1/2017.Amended by S.L. 2015, ch. 240,s. 21, eff. 7/1/2015.Amended by S.L. 2014, ch. 226,s. 6, eff. 7/1/2014.