Section 21-22-9 - Petition, hearing and order for court supervision of nonjudicial trust--Informationfiled by trustee. - South Dakota Statutes

21-22-9. Petition, hearing and order for court supervision of nonjudicial trust--Information filed by trustee. Any trustee or beneficiary of any other trust may, if the trustee is a resident of this state or if any of the trust estate has its situs in this state, at any time petition the circuit court, the county where such petition is to be filed to be determined the same as in the case of a court trust, to exercise supervision. Upon such petition being filed the court must fix a time and place for hearing thereon, notice to be given as provided by this chapter and upon such hearing shall enter an order assuming supervision unless good cause to the contrary is shown. Thereupon the trustee shall within thirty days, file the information required pursuant to § 21-22-3 by a trustee under a court trust, and at all times thereafter the court shall have the same powers as over a court trust. If the petition for court supervision includes the information required pursuant to § 21-22-3, the trustee or beneficiary may in the same petition request court action as to any matter relevant to the administration of the trust, including the termination of court supervision. Upon the hearing on the petition, the court shall enter an order assuming supervision unless good cause to the contrary is shown and further shall make such order or give such directions to the trustee as the court shall determine.

Source: SDC 1939 & Supp 1960, § 33.2605; SL 2002, ch 100, § 8; SL 2004, ch 312, § 10.