55-13-1. Definitions.
As used in this chapter:
(1)"Income beneficiary" means the person to whom income is presently payable or for whom it is accumulated for distribution as income;
(2)"Inventory value" means the cost of property purchased by the trustee and the market value of other property at the time it became subject to the trust, but in the case of a testamentary trust the trustee may use any value finally determined for the purposes of an estate or inheritance tax;
(3)"Remainderman" means the person entitled to principal, including income which has been accumulated and added to principal;
(4)"Trustee" means an original trustee and any successor or added trustee.
Source: SL 1984, ch 323, ยง1.
Structure South Dakota Codified Laws
Title 55 - Fiduciaries and Trusts
Chapter 13 - Revised Uniform Principal And Income Act
Section 55-13-1 - Definitions.
Section 55-13-2 - Duty of trustee as to receipts and expenditures.
Section 55-13-3 - Income--Principal--Charges.
Section 55-13-4 - When right to income arises--Apportionment of income.
Section 55-13-5 - Income earned during administration of a decedent's estate.
Section 55-13-6 - Corporate distributions.
Section 55-13-7 - Increase in value of certain trust investments distributable as income.
Section 55-13-8 - Business and farming operations.
Section 55-13-9 - Disposition of natural resources.
Section 55-13-11 - Other property subject to depletion.
Section 55-13-13 - Charges against income and principal.
Section 55-13-14 - Application of chapter.
Section 55-13-15 - Uniformity of interpretation.
Section 55-13-16 - Short title.
Section 55-13-17 - Severability.
Section 55-13-18 - Application of chapter to existing trusts and estates.