55-9-2. Validity of trust not affected by uncertainty or violation of rule against perpetuities--Disposal of property by trustee.
No such trust shall be invalid because of indefiniteness or uncertainty of the object of such trust or of the beneficiaries thereof designated in the instrument creating the same nor by reason of the same contravening any statute or rule against perpetuities, but no such trust shall be construed so as to prevent or limit the free alienation of the title to any of the trust estate by the trustee in the administration of said trust, except as may be permitted under existing or subsequent statutes.
Source: SL 1955, ch 429, §2; SDC Supp 1960, §59.0602.
Structure South Dakota Codified Laws
Title 55 - Fiduciaries and Trusts
Chapter 09 - Charitable Trusts
Section 55-9-5 - Enforcement by attorney general as representative of beneficiaries--Exception.
Section 55-9-6 - Restrictions to avoid taxability of income--Definition of terms.
Section 55-9-8 - Self-dealing by trustee prohibited.
Section 55-9-9 - Distributions required to avoid taxes.
Section 55-9-10 - Retention of excess business holdings prohibited.
Section 55-9-11 - Investments to jeopardize exempt purposes prohibited.
Section 55-9-12 - Taxable expenditures prohibited.
Section 55-9-14 - State supervisory powers unimpaired by restrictions to avoid taxability of income.