South Dakota Codified Laws
Chapter 04 - Uniform Trusts Act
Section 55-4-40 - Applicability of §§ 55-4-38 and 55-4-39.

South Dakota Codified Laws

Title 55 - Fiduciaries and Trusts

Chapter 04 - Uniform Trusts Act

Section 55-4-1 - Definition of terms.

Section 55-4-2 - Powers attached to the office of trustee.

Section 55-4-3 - Number of trustees for exercise of powers.

Section 55-4-4 - Liability of trustee not joining in exercise of power.

Section 55-4-5 - Cotrustee--Liability for maladministration of trust.

Section 55-4-6 - Voting of corporate stock owned by trustee.

Section 55-4-7 - Creation of trust--Bank account to pay special debts.

Section 55-4-8 - Trust to pay special debts--Failure of beneficiary to present claim for payment--Revocation of trust by depositor.

Section 55-4-9 - Holding stock in name of nominee.

Section 55-4-10 - Loan of trust funds.

Section 55-4-11 - Corporate trustee depositing trust funds with self--Interest.

Section 55-4-12 - Corporate trustee depositing trust funds with self--Maintenance of required value--Ownership of income--Items specified in statements of financial condition to Division of Banking.

Section 55-4-13 - Trustee not to buy from or sell to self--Exception.

Section 55-4-14 - Permitted sales between trusts held by same corporate trustee.

Section 55-4-15 - Corporate trustee buying its own stock.

Section 55-4-16 - Withdrawals from mingled trust funds.

Section 55-4-17 - Unenforceable oral trust created by deed--Duties of intended trustee--Conveyance of real property interest under oral trust.

Section 55-4-18 - Unenforceable oral trust created by deed--Liability of trustee to settlor for transfer of real property.

Section 55-4-19 - Action on contract against trustee in representative capacity--Execution against trust property--Intervention by beneficiary.

Section 55-4-20 - Action on contract against trustee--Notice to beneficiaries.

Section 55-4-21 - Action on contract against trustee--Personal liability of trustee.

Section 55-4-22 - Exoneration or reimbursement of trustee for tort committed in administration of trust.

Section 55-4-23 - Exoneration or reimbursement of trustee for tort--Increase in value of trust property.

Section 55-4-24 - Liability of trustees of charitable trust for torts not changed by provisions of law as to exoneration or reimbursement of trustee for tort.

Section 55-4-25 - Tort liability of trust estate--Action against trustee, amount of recovery, intervention by beneficiary.

Section 55-4-26 - Tort liability of trust estate--Action against trustee, proof as to reimbursement unnecessary.

Section 55-4-27 - Tort liability of trust estate--Action against trustee, notice to beneficiaries.

Section 55-4-28 - Personal liability for tort committed by trustee.

Section 55-4-29 - Existing law as to charitable immunity not changed by law as to tort liability of trust estate.

Section 55-4-30 - Power of settlor of trust.

Section 55-4-31 - Trustee not liable if beneficiary consents to conduct or releases trustee from liability or ratifies transaction.

Section 55-4-32 - Relieving trustee of duties--Power of the court.

Section 55-4-33 - Liabilities for violations of chapter.

Section 55-4-34 - Application of chapter to testamentary trust.

Section 55-4-35 - Uniformity of interpretation.

Section 55-4-36 - Citation of chapter.

Section 55-4-37 - Liability for fiduciary's partnership interest limited.

Section 55-4-38 - Limitation on trustee's power to make distributions to his or her benefit.

Section 55-4-39 - "Trustee" construed broadly.

Section 55-4-40 - Applicability of §§ 55-4-38 and 55-4-39.

Section 55-4-41 - Certain trustees exempted from §§ 55-4-38 to 55-4-40, inclusive.

Section 55-4-50 - Co-trustee's inability or failure to perform.

Section 55-4-51 - Certificate of trust furnished in lieu of copy of trust instrument or will that creates testamentary trust--Contents.

Section 55-4-51.1 - Recording of certificate of trust--Reliance upon content.

Section 55-4-51.2 - Applicability of §§ 55-4-51 and 55-4-51.1.

Section 55-4-51.3 - Form of certificate of trust in support of a real property transaction.

Section 55-4-52 - Request for excerpts from trust instrument.

Section 55-4-53 - Limitation of liability for acting in reliance on certificate of trust.

Section 55-4-54 - Enforcement of transaction entered into in reliance on certificate of trust.

Section 55-4-55 - Liability for bad faith demand for trust instrument.

Section 55-4-56 - Right to obtain copy of trust instrument in judicial proceeding.

Section 55-4-57 - Time for commencing judicial proceeding to contest validity of trust--Distribution of trust property--Recovery of improper distribution--Notice.

Section 55-4-58 - Presentation of claims against property of trust revocable at settlor's death.