55-1B-9. Investment trust advisor or distribution trust advisor provided for in trust instrument.
A trust instrument governed by the laws of South Dakota may provide for a person to act as an investment trust advisor or a distribution trust advisor, respectively, with regard to investment decisions or discretionary distributions. Unless otherwise provided or restricted by the terms of the governing instrument, any person may simultaneously serve as a trust advisor and a trust protector.
Source: SL 2005, ch 260, §5; SL 2017, ch 204, §16.
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.