S.D. Codified Laws § 55-1-21.6

Current through the 2024 Legislative Session

Section 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.

SDCL 55-1-21.6

SL 2018, ch 275, §9.

Added by S.L. 2018, ch. 275,s. 9, eff. 7/1/2018.