2006 South Dakota Code - 55-16-6 — Successor qualified trustee.

     55-16-6.   Successor qualified trustee. If a qualified trustee of a trust ceases to meet the requirements of § 55-16-3, and there remains no trustee that meets such requirements, such qualified trustee shall be deemed to have resigned as of the time of such cessation, and thereupon the successor qualified trustee provided for in the trust instrument shall become a qualified trustee of the trust, or in the absence of any successor qualified trustee provided for in the trust instrument, the circuit court shall, upon application of any interested party, appoint a successor qualified trustee.

Source: SL 2005, ch 261, § 6.