South Dakota Codified Laws
Chapter 01 - Classification And Creation Of Trusts
Section 55-1-22 - Hybrid purpose trusts valid.

South Dakota Codified Laws

Title 55 - Fiduciaries and Trusts

Chapter 01 - Classification And Creation Of Trusts

Section 55-1-1 - Purposes for which trust may be created.

Section 55-1-2 - Trusts classified.

Section 55-1-3 - Express trust defined.

Section 55-1-4 - Creation of express trust--Words or acts of trustor.

Section 55-1-5 - Express trust created as to trustee--Words and acts of trustee.

Section 55-1-5.1 - Express trust need not be for exclusive benefit of beneficiaries.

Section 55-1-6 - Implied trust--Definition--Creation.

Section 55-1-6.1 - Implied trust may not prejudice rights of real property purchaser or encumbrancer.

Section 55-1-7 - Wrongful detention creates implied trust.

Section 55-1-8 - Implied trust resulting from fraud, accident or wrongful act.

Section 55-1-9 - Implied trust created by transfer of property in violation of trust.

Section 55-1-10 - Transfer of real property to one for money paid by another--Trust presumed.

Section 55-1-11 - Implied trust--Declaration by court of equity.

Section 55-1-12 - Trustor, trustee, beneficiary, power of appointment, and person defined.

Section 55-1-13 - Voluntary trustee--Assumption of relationship.

Section 55-1-14 - Interest in existing trust--Transfer by operation of law or written instrument.

Section 55-1-15 - Certain trusts not terminated upon trustor's death.

Section 55-1-20 - Trusts for noncharitable purposes.

Section 55-1-21 - Trust for care of animal, care of other property, or other lawful noncharitable purpose.

Section 55-1-21.1 - Termination of trust for care of animal.

Section 55-1-21.3 - Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.

Section 55-1-21.4 - Enforcement of purpose of trust by enforcer.

Section 55-1-21.5 - Removal of enforcer.

Section 55-1-21.6 - Discretion of trustee of purpose trust.

Section 55-1-21.7 - Judicial designation of trustee--Order to carry out intent of trustor and purpose of trust.

Section 55-1-21.8 - Distribution of property upon termination of purpose of trust.

Section 55-1-21.9 - Filings, reports, accounting, separation of funds, appointment, and registration of purpose trust not required--Exceptions.

Section 55-1-21.10 - Trustee may not use principal and income other than for trust's purposes.

Section 55-1-22 - Hybrid purpose trusts valid.

Section 55-1-22.1 - Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust.

Section 55-1-22.2 - Beneficiaries' share of a hybrid purpose trust.

Section 55-1-22.3 - Spendthrift provision in hybrid purpose trust--Qualified dispositions in trust.

Section 55-1-22.4 - Application of §§ 55-1-21 to 55-1-21.9 to hybrid purpose trust--Exceptions.

Section 55-1-22.5 - Discretion of trustee of hybrid purpose trust.

Section 55-1-22.6 - Enforcer of hybrid purpose trust.

Section 55-1-24 - Definitions applicable to §§ 55-1-24 to 55-1-45.

Section 55-1-24.1 - Improper motive.

Section 55-1-24.2 - Withdrawal power.

Section 55-1-25 - Distinction between discretionary trust and support trust--Creditor rights--Judicial review.

Section 55-1-27 - Certain remainder interests not property interests.

Section 55-1-28 - Interest of beneficiary or others not reachable by creditors.

Section 55-1-29 - Trust property not subject to personal obligations of trustee.

Section 55-1-30 - Distribution and remainder interests not relevant to division of marital property.

Section 55-1-31 - Resources of settlor's spouse to be considered in making distribution from support trust--Other beneficiary's resources need not be considered.

Section 55-1-32 - Factors which are not dominion and control over trust.

Section 55-1-33 - Factors which are insufficient evidence that settlor controls or is alter ego of trustee.

Section 55-1-35 - Trust declaration that beneficiary's interest subject to spendthrift trust--Payment of beneficiary expenses.

Section 55-1-36 - Satisfaction of claims of settlor's creditors from trust estate if settlor is beneficiary.

Section 55-1-36.1 - Effect on creditor claims of trustee discretionary powers to pay taxes or make reimbursements for taxes.

Section 55-1-37 - Application of spendthrift provision.

Section 55-1-38 - Classification of distribution interest.

Section 55-1-38.1 - Classification of interest as support interest.

Section 55-1-39 - Bifurcation of trust.

Section 55-1-40 - Language resulting in classification of distribution interest.

Section 55-1-41 - Effect of spendthrift provision.

Section 55-1-42 - Mandatory or support interests.

Section 55-1-43 - Discretionary interests.

Section 55-1-44 - Action for fraudulent transfer of settlor's assets--Jurisdiction--Attorneys' fees and costs--Burden of proof.

Section 55-1-45 - Limitation of action for fraudulent transfer of settlor's assets.

Section 55-1-46 - No contest clause defined--Enforceability.

Section 55-1-47 - Extrinsic evidence not admissible to establish settlor's intent concerning no contest clause.

Section 55-1-48 - Circumstances under which no contest clause unenforceable.

Section 55-1-49 - Contest regarding settlor's signature.

Section 55-1-50 - Attorneys fees and costs.

Section 55-1-51 - Applicability of §§ 55-1-46 to 55-1-50.

Section 55-1-52 - Interest on general pecuniary devises.

Section 55-1-53 - Expansion, restriction, elimination, or variance of provisions of general application.

Section 55-1-54 - Arbitration.

Section 55-1-55 - Trust enforceable although not funded or without res, corpus, or assets.

Section 55-1-56 - Registration of trust in court at principal place of administration.

Section 55-1-57 - Contents of registration statement.

Section 55-1-58 - Confidentiality of registration.

Section 55-1-59 - Trust registration form.