South Dakota Codified Laws
Chapter 16 - Qualified Dispositions In Trust
Section 55-16-3 - Qualified person defined.

55-16-3. Qualified person defined.
For the purposes of this chapter, a qualified person is any person who qualifies as a qualified person under §55-3-41 and who meets all the requirements of §55-3-39 other than the transferor.

Source: SL 2005, ch 261, §3; SL 2009, ch 252, §42.

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 55 - Fiduciaries and Trusts

Chapter 16 - Qualified Dispositions In Trust

Section 55-16-1 - Definitions.

Section 55-16-2 - Trust instrument defined.

Section 55-16-3 - Qualified person defined.

Section 55-16-4 - Persons and entities not to be considered qualified person--Appointment, removal, or replacement of co-trustee, trust advisor, or trust protector.

Section 55-16-5 - Service as investment trust advisor--Service as fiduciary by transferor.

Section 55-16-6 - Successor qualified person.

Section 55-16-7 - Disposition to more than one trustee--Qualified disposition even if all trustees are not qualified persons.

Section 55-16-8 - Powers and rights of transferor--Effect on qualified disposition.

Section 55-16-9 - Creditors' actions limited to transfers with intent to defraud.

Section 55-16-10 - Requirements for bringing claim for fraudulent transfer of settlor's assets.

Section 55-16-11 - Disposition by transferor who is a trustee--Time of disposition.

Section 55-16-12 - Creditor or other person--Rights with respect to a qualified disposition--Action against trustee, advisor, or trust preparer prohibited.

Section 55-16-13 - Action against trustee, advisor, or preparer of trust prohibited if action by creditor would be barred--Jurisdiction--Attorneys' fees and costs.

Section 55-16-14 - Multiple qualified dispositions in same trust instrument.

Section 55-16-15 - Application of chapter.

Section 55-16-16 - Avoidance of qualified disposition.