Statutes, codes, and regulations
South Dakota Codified Laws
Title 55 - FIDUCIARIES AND TRUSTS
Chapter 1 - CLASSIFICATION AND CREATION OF TRUSTS
Section 55-1-22.1 - Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust

S.D. Codified Laws § 55-1-22.1

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Current through the 2024 Legislative Session
Section 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.

SDCL 55-1-22.1

SL 2018, ch 275, §15.
Added by S.L. 2018, ch. 275,s. 15, eff. 7/1/2018.