Section 43-10-3 - Provisions relating to nominal trustee do not apply to resulting or express trusts. - South Dakota Statutes

43-10-3. Provisions relating to nominal trustee do not apply to resulting or express trusts. Sections 43-10-1 and 43-10-2 do not extend to trusts arising or resulting by implication of law nor prevent or affect the creation of such express trusts as are authorized and defined in this chapter nor do they divest the estate of any trustee where the title of such trustee is not merely nominal but is connected with some power of actual disposition or management in relation to real property which is the subject of the trust.

Source: CivC 1877, §§ 276, 278; CL 1887, §§ 2792, 2794; RCivC 1903, §§ 299, 301; RC 1919, §§ 368, 370; SDC 1939, § 59.0302.