43-30B-4. Administration of trust.
Except as otherwise provided in this chapter, the trustee shall administer the trust in compliance with title 55. The trustee may engage agents to assist in the administration of the trust. Trustee fees, agent fees, and any other administrative costs must be reasonable and may be paid from the trust upon approval by the court. All bonuses, rental payments, royalties, and other income shall be paid to the trustee until the trust is terminated. If the county treasurer or other county official or employee is the trustee, the trustee's fee shall be paid to the general fund of the county. A county official acting as trustee shall account for, keep, and invest the funds in the same manner as other county funds. If the bonuses, rental payments, royalties, and other income paid to the trust are not sufficient to pay trustee fees, agent fees, and any other administrative costs paid by the trustee, the petitioner shall indemnify the fund for such costs and expenses.
Source: SL 2013, ch 223, §4; SL 2015, ch 222, §1; SL 2017, ch 189, §4.
Structure South Dakota Codified Laws
Chapter 30B - Trust For Unlocated Or Unidentified Mineral Interest Owners
Section 43-30B-1 - Petition for creation of trust.
Section 43-30B-2 - Required showing.
Section 43-30B-4 - Administration of trust.
Section 43-30B-5 - Termination of trust--Distribution of trust moneys.
Section 43-30B-6 - Actions not use of mineral interest under chapter 43-30A.