S.D. Codified Laws § 55-1-24.2

Current through the 2024 Legislative Session

Section 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.

SDCL 55-1-24.2

SL 2011, ch 212, §32; SL 2016, ch 231, §11.

Amended by S.L. 2016, ch. 231,s. 11, eff. 7/1/2016.