S.D. Codified Laws ch. 55-1A – Trustees' Powers | Midpage

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South Dakota Codified Laws

Chapter 55-1A

S.D. Codified Laws ch. 55-1A

Trustees' Powers

55-1A-1Powers enumerated in chapter apply to any trust unless specifically excluded--Powers as additional to common law powers.55-1A-2Trustee defined.55-1A-355-1A-3, 55-1A-4. Repealed by SL 2002, ch 100, §§ 11, 12 55-1A-5Retention of trust property by trustee.55-1A-6Additions to trust assets.55-1A-7Operation of business by trustee.55-1A-8Acquisition of undivided interest in trust asset.55-1A-9Investment of trust assets.55-1A-9.1Affiliated investments.55-1A-10Deposit of trust funds in bank.55-1A-11Disposal of trust assets.55-1A-12Grant or taking of option for disposition of assets.55-1A-13Leases by trustees.55-1A-14Repairs by trustee--Removal or demolition.55-1A-15Razing or erection of party walls or buildings.55-1A-16Land development or dedication--Valuation adjustments.55-1A-17Mineral and natural resource leases and explorations.55-1A-18Insurance.55-1A-19Voting stock or securities--Voting trust agreements.55-1A-20Payment of calls, assessments, and other sums charged against corporate securities.55-1A-21Corporate powers--Stocks--Reorganizations and mergers--Sales and leases.55-1A-22Holding stock in nominee's name without disclosing fiduciary relationship.55-1A-23Borrowing money against trust assets.55-1A-24Contracts binding upon trust.55-1A-25Claims in favor of or against trust or trustee.55-1A-26Release of claim or lien.55-1A-27Payment of trust administration expenses.55-1A-28Creation of reserves.55-1A-29Payment of sum distributable to minor or other beneficiary under legal disability--Methods.55-1A-30Distribution of property and money.55-1A-31Employment of agents and assistants.55-1A-32Prosecution or defense of actions and proceedings.55-1A-32.1Trustee immunity from liability for failure to prosecute, defend, or continue to defend.55-1A-33Advance of income or loan to beneficiary--Lien.55-1A-34Advance of money for protection of trust--Lien.55-1A-35Execution and delivery of instruments.55-1A-35.1Electronic execution of documents.55-1A-36Holding of two or more trusts with undivided interests.55-1A-37Citation of chapter.55-1A-38Trustee may perform necessary and appropriate acts.55-1A-39Disclaimer of powers by trustee--Time limit.55-1A-40Trust name change.55-1A-41Co-trustee appointment--Powers.