55-1B-1.1. Governing instrument may provide trust advisor or trust protector with powers and immunities of trustee.
Any governing instrument providing for a trust advisor or trust protector may also provide such trust advisor or trust protector with some, none, or all of the rights, powers, privileges, benefits, immunities, or authorities available to a trustee under South Dakota law or under the governing instrument. Unless the governing instrument provides otherwise, a trust advisor or trust protector has no greater liability to any person than would a trustee holding or benefiting from the rights, powers, privileges, benefits, immunities, or authority provided or allowed by the governing instrument to such trust advisor or trust protector.
Source: SL 2011, ch 212, ยง4.
Structure South Dakota Codified Laws
Title 55 - Fiduciaries and Trusts
Section 55-1B-1 - Definition of terms.
Section 55-1B-3 - Death of grantor.
Section 55-1B-4 - Trust advisor as fiduciary.
Section 55-1B-5 - Excluded fiduciary's liability for loss if trust protector appointed.
Section 55-1B-6 - Powers and discretions of trust protector.
Section 55-1B-7 - Submission to court jurisdiction--Effect on trust advisor or trust protector.
Section 55-1B-8 - Powers of trust protector incorporated by reference in will or trust instrument.
Section 55-1B-10 - Powers and discretions of investment trust advisor.
Section 55-1B-11 - Powers and discretions of distribution trust advisor.
Section 55-1B-12 - Powers and discretions of family advisor.