There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 55-16-1 — Definitions.
55-16-1. Definitions. Terms used in this chapter mean:
(1) "Claim," a right to payment, whether
or not the right is reduced to judgment liquidated, unliquidated,
fixed, contingent, matured, unmatured, disputed, undisputed, legal,
equitable, secured, or unsecured;
(2) "Creditor," with respect to a
transferor, a person who has a claim;
(3) "Debt," liability on a
claim;
(4) "Disposition," a transfer, conveyance,
or assignment of property, including a change in the legal
ownership of property occurring upon the substitution of one
trustee for another or the addition of one or more new trustees, or
the exercise of a power so as to cause a transfer of property to a
trustee or trustees. The term does not include the release or
relinquishment of an interest in property that theretofore was the
subject of a qualified disposition;
(5) "Property," real property, personal
property, and interests in real or personal property;
(6) "Qualified disposition," a disposition
by or from a transferor to a qualified trustee or qualified
trustees, with or without consideration, by means of a trust
instrument;
(7) "Spouse" and "former spouse," only
persons to whom the transferor was married at, or before, the time
the qualified disposition is made;
(8) "Transferor," any person as an owner
of property; as a holder of a power of appointment which authorizes
the holder to appoint in favor of the holder, the holder's
creditors, the holder's estate, or the creditors of the holder's
estate; or as a trustee, directly or indirectly, makes a
disposition or causes a disposition to be made.
Source: SL 2005, ch 261, § 1.
Source: SL 2005, ch 261, § 1.
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