S.D. Codified Laws § 55-4-51

Current through the 2024 Legislative Session

Section 55-4-51 - Certificate of trust furnished in lieu of copy of trust instrument or will that creates testamentary trust-Contents

Instead of furnishing a copy of the trust instrument or a copy of a will that creates a testamentary trust to a person other than a beneficiary, one or more trustees may furnish to the person a certificate of trust signed by a trustee, settlor, grantor, or trustor containing the following:

(1) A statement that the trust exists, the current name of the trust if one has been given, any previous name of the trust if the name of the trust was changed, and the date the trust instrument or will was executed;

(2) The name of the settlor, grantor, trustor, testator, or testatrix;

(3) The name of each original trustee and the name and address of each trustee currently empowered to act under the trust instrument or will on the date of the execution of the certificate of trust;

(4) The applicable powers of the trustee and other provisions set forth in the trust instrument or will as are selected by the person signing the certificate of trust, including those powers authorizing the trustee to sell, convey, pledge, mortgage, lease, or transfer title to any interest in property held in the trust, together with a statement setting forth the number of trustees required by the provisions of the trust instrument or will to act;

(5) A statement that the trust is irrevocable or, if the trust is revocable, a statement to that effect and that the trust has not been revoked;

(6) A statement that the trust is not supervised by a court, or, if applicable, a statement that the trust is supervised by a court, and which statement also sets forth any restrictions imposed by the court on the trustee's ability to act as otherwise permitted by statute or the terms of the trust instrument or will;

(7) If applicable, a description of any property to be conveyed by the trustee;

(8) A statement that the trust has not been modified or amended in any manner that would cause the representations contained in the certificate of trust to be incorrect.

The person signing the certificate shall certify that the statements contained in the certificate are true and correct. The signature of the person signing the certificate shall be acknowledged or verified under oath before a notary public or other official authorized to administer oaths. A certificate of trust need not contain the dispositive terms of a trust.

SDCL 55-4-51

SL 2009, ch 252, §24; SL 2010, ch 232, §7; SL 2011, ch 212, §15.