55-9-4. Incomplete or imperfect trust--Purposes impracticable or impossible of performance--Administration to accomplish general purpose--Order of court with consent of donor, if alive and competent.
Whenever it shall appear to the circuit court for the proper county that the purpose and object of such charity is imperfectly expressed, or the method of administration is not indicated or is incomplete or imperfect, or that the fulfillment of the special purpose expressed in a trust for charitable or public purpose is or becomes impracticable, impossible, inexpedient or unlawful, such court shall upon the application of any trustee of the trust, or any interested party or the attorney general of this state, and upon such notice as said court may direct, make an order directing that such trust shall be administered or expended in such manner as in the judgment of said court will, as nearly as can be, accomplish the general purposes of the instrument and the object and intention of the donor without regard to, and free from any, specific restriction, limitation or direction contained therein, provided, however, that no such order shall be made without the consent of the donor of said trust if he is then living and mentally competent.
Source: SL 1955, ch 429, §3; SDC Supp 1960, §59.0603.
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.