STATE STATUTES & CODES

SOUTH DAKOTA STATUTES AND CODES

Chapter 04 - Uniform Trusts Act

• Section 55-4-1 - Definition of terms.
• Section 55-4-2 - Powers attached to the office of trustee.
• Section 55-4-3 - Powers exercised by majority of trustees.
• Section 55-4-4 - Liability of trustee not joining in exercise of power.
• Section 55-4-5 - Cotrustee--Liability for maladministration of trust.
• Section 55-4-6 - Voting of corporate stock owned by trustee.
• Section 55-4-7 - Creation of trust--Bank account to pay special debts.
• Section 55-4-8 - Trust to pay special debts--Failure of beneficiary to present claim for payment--Revocation of trust by depositor.
• Section 55-4-9 - Holding stock in name of nominee.
• Section 55-4-10 - Loan of trust funds.
• Section 55-4-11 - Corporate trustee depositing trust funds with self--Interest.
• Section 55-4-12 - Corporate trustee depositing trust funds with self--Maintenance of required value--Ownership of income--Items specified in statements of financial condition toDivision of Banking.
• Section 55-4-13 - Trustee not to buy from or sell to self--Exception.
• Section 55-4-14 - Permitted sales between trusts held by same corporate trustee.
• Section 55-4-15 - Corporate trustee buying its own stock.
• Section 55-4-16 - Withdrawals from mingled trust funds.
• Section 55-4-17 - Unenforceable oral trust created by deed--Duties of intended trustee--Conveyanceof real property interest under oral trust.
• Section 55-4-18 - Unenforceable oral trust created by deed--Liability of trustee to settlor for transferof real property.
• Section 55-4-19 - Action on contract against trustee in representative capacity--Execution againsttrust property--Intervention by beneficiary.
• Section 55-4-20 - Action on contract against trustee--Notice to beneficiaries.
• Section 55-4-21 - Action on contract against trustee--Personal liability of trustee.
• Section 55-4-22 - Exoneration or reimbursement of trustee for tort committed in administration oftrust.
• Section 55-4-23 - Exoneration or reimbursement of trustee for tort--Increase in value of trustproperty.
• Section 55-4-24 - Liability of trustees of charitable trust for torts not changed by provisions of lawas to exoneration or reimbursement of trustee for tort.
• Section 55-4-25 - Tort liability of trust estate--Action against trustee, amount of recovery,intervention by beneficiary.
• Section 55-4-26 - Tort liability of trust estate--Action against trustee, proof as to reimbursementunnecessary.
• Section 55-4-27 - Tort liability of trust estate--Action against trustee, notice to beneficiaries.
• Section 55-4-28 - Personal liability for tort committed by trustee.
• Section 55-4-29 - Existing law as to charitable immunity not changed by law as to tort liability oftrust estate.
• Section 55-4-30 - Power of settlor of trust.
• Section 55-4-31 - Power of beneficiary of trust.
• Section 55-4-32 - Relieving trustee of duties--Power of the court.
• Section 55-4-33 - Liabilities for violations of chapter.
• Section 55-4-34 - Application of chapter to testamentary trust.
• Sections 55-4-35, 55-4-36 - Uniformity of interpretation. Citation of chapter
• Section 55-4-37 - Liability for fiduciary's partnership interest limited.
• Section 55-4-38 - Limitation on trustee's power to make distributions to his or her benefit.
• Section 55-4-39 - "Trustee" construed broadly.
• Section 55-4-40 - Applicability of §§ 55-4-38 and 55-4-39.
• Section 55-4-41 - Certain trustees exempted from §§ 55-4-38 to 55-4-40, inclusive.
• Sections 55-4-42 to 55-4-47 - Repealed
• Sections 55-4-48, 55-4-49 - Repealed
• Section 55-4-50 - Co-trustee's inability or failure to perform.
• Section 55-4-51 - Certificate of trust furnished in lieu of copy of trust instrument or will that createstestamentary trust--Contents.
• Section 55-4-51.1 - Recording of certificate of trust--Reliance upon content.
• Section 55-4-51.2 - Applicability of §§ 55-4-51 and 55-4-51.1.
• Section 55-4-51.3 - Form of certificate of trust in support of a real property transaction.
• Section 55-4-52 - Request for excerpts from trust instrument.
• Section 55-4-53 - Limitation of liability for acting in reliance on certificate of trust.
• Section 55-4-54 - Enforcement of transaction entered into in reliance on certificate of trust.
• Section 55-4-55 - Liability for bad faith demand for trust instrument.
• Section 55-4-56 - Right to obtain copy of trust instrument in judicial proceeding.
• Section 55-4-57 - Time for commencing judicial proceeding to contest validity of trust revocableat settlor's death--Distribution of trust property--Recovery of improperdistribution.