55-5-14. Authorization language.
The following terms or comparable language in the investment powers and related provisions of a trust instrument, unless otherwise limited or modified by that instrument, authorize any investment or strategy permitted under this chapter: "investments permissible by law for investment of trust funds," "legal investment," "authorized investments," "using the judgment and care under the circumstances then prevailing that men of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to the speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital," "prudent man rule," "prudent person rule."
Source: SL 1995, ch 271, ยง14.
Structure South Dakota Codified Laws
Title 55 - Fiduciaries and Trusts
Chapter 05 - Investment And Management Powers Of Fiduciaries
Section 55-5-6 - Standards for investing and managing assets.
Section 55-5-7 - Prudent investor rule.
Section 55-5-8 - Diversification of investments.
Section 55-5-10 - Investment strategy--Productivity judged by whole portfolio.
Section 55-5-11 - Circumstances considered in investment decisions.
Section 55-5-12 - Precedence of express provisions of trust instrument.
Section 55-5-13 - Court authority over trustee.
Section 55-5-14 - Authorization language.
Section 55-5-15 - Applicability of chapter.
Section 55-5-16 - Delegation of responsibilities to others.
Section 55-5-17 - Duties of trustee with respect to life insurance--Notice to settlor.