Except as provided in §§ 55-17-10 and 55-17-11, in a South Dakota special spousal trust, spouses may agree on:

1. (1) The rights and obligations in the property transferred to the trust, notwithstanding when and where the property is acquired or located;
2. (2) The management and control of the property transferred to the trust;
3. (3) The disposition of the property transferred to the trust on dissolution, death, or the occurrence or nonoccurrence of another event; if there is no provision in the governing instrument on disposition of the property transferred to the trust on dissolution, South Dakota law on disposition of property on dissolution applies;
4. (4) The choice of law governing the interpretation of the trust; and
5. (5) Any other matter that affects the property transferred to the trust and does not violate public policy or a statute imposing a criminal penalty.

Source: SL 2016, ch 231 , § 37; SL 2018, ch 275 , § 30.