S.D. Codified Laws § 55-1-15
This is the official text of S.D. Codified Laws § 55-1-15, part of South Dakota’s Codified Laws — part of the compiled statutory law of South Dakota, published by the state as "Codified Laws." Browse the sections below, each linked to its official government source.
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Certain trusts not terminated upon trustor's death
Official statutory text
A trust which provides for one or more successor beneficiaries upon the death of the trustor is not invalid, merged or terminated if:
(1) There is a trustor who is the sole trustee and the sole beneficiary during the trustor's lifetime; or
(2) There are two or more trustors, one or more of whom is trustee, and the beneficial interest of the trust is in one or more of the trustors during the lifetime of the trustors.
Source: SL 1991, ch 395, § 1.
(1) There is a trustor who is the sole trustee and the sole beneficiary during the trustor's lifetime; or
(2) There are two or more trustors, one or more of whom is trustee, and the beneficial interest of the trust is in one or more of the trustors during the lifetime of the trustors.
Source: SL 1991, ch 395, § 1.
Status: in_force · Read it on the official government site
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