55-1A-5. Retention of trust property by trustee.
A trustee may collect, hold, and retain trust assets until, in his judgment, disposition of the assets should be made, without regard to any effect the retention may have upon the diversification of the trust estate. Trust property may be retained even though it includes an asset in which its trustee is personally interested.
Source: SL 1979, ch 336, ยง5.
Structure South Dakota Codified Laws
Title 55 - Fiduciaries and Trusts
Section 55-1A-2 - Trustee defined.
Section 55-1A-5 - Retention of trust property by trustee.
Section 55-1A-6 - Additions to trust assets.
Section 55-1A-7 - Operation of business by trustee.
Section 55-1A-8 - Acquisition of undivided interest in trust asset.
Section 55-1A-9 - Investment of trust assets.
Section 55-1A-9.1 - Affiliated investments.
Section 55-1A-10 - Deposit of trust funds in bank.
Section 55-1A-11 - Disposal of trust assets.
Section 55-1A-12 - Grant or taking of option for disposition of assets.
Section 55-1A-13 - Leases by trustees.
Section 55-1A-14 - Repairs by trustee--Removal or demolition.
Section 55-1A-15 - Razing or erection of party walls or buildings.
Section 55-1A-16 - Land development or dedication--Valuation adjustments.
Section 55-1A-17 - Mineral and natural resource leases and explorations.
Section 55-1A-19 - Voting stock or securities--Voting trust agreements.
Section 55-1A-21 - Corporate powers--Stocks--Reorganizations and mergers--Sales and leases.
Section 55-1A-22 - Holding stock in nominee's name without disclosing fiduciary relationship.
Section 55-1A-23 - Borrowing money against trust assets.
Section 55-1A-24 - Contracts binding upon trust.
Section 55-1A-25 - Claims in favor of or against trust or trustee.
Section 55-1A-26 - Release of claim or lien.
Section 55-1A-27 - Payment of trust administration expenses.
Section 55-1A-28 - Creation of reserves.
Section 55-1A-30 - Distribution of property and money.
Section 55-1A-31 - Employment of agents and assistants.
Section 55-1A-32 - Prosecution or defense of actions and proceedings.
Section 55-1A-33 - Advance of income or loan to beneficiary--Lien.
Section 55-1A-34 - Advance of money for protection of trust--Lien.
Section 55-1A-35 - Execution and delivery of instruments.
Section 55-1A-36 - Holding of two or more trusts with undivided interests.
Section 55-1A-37 - Citation of chapter.
Section 55-1A-38 - Trustee may perform necessary and appropriate acts.
Section 55-1A-39 - Disclaimer of powers by trustee--Time limit.