Statutes, codes, and regulations
South Dakota Codified Laws
Title 55 - FIDUCIARIES AND TRUSTS
Chapter 2 - DUTIES AND LIABILITIES OF TRUSTEES
Section 55-2-22 - Fiduciary duty to determine that substituted property is of equivalent value

S.D. Codified Laws § 55-2-22

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Current through the 2024 Legislative Session
Section 55-2-22 - Fiduciary duty to determine that substituted property is of equivalent value

Notwithstanding the terms of a trust instrument, if a settlor has a power to substitute property of equivalent value, a trustee has a fiduciary duty to determine that the substituted property is of equivalent value, prior to allowing the substitution.

SDCL 55-2-22

SL 2009, ch 252, §21.