There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 55-1B-10 — Powers and discretions of investment trust advisor.
55-1B-10. Powers and discretions of investment trust advisor. The powers and discretions of an investment trust advisor shall be provided in the trust instrument and may be exercised or not exercised, in the best interests of the trust, in the sole and absolute discretion of the investment trust advisor and are binding on any other person and any other interested party, fiduciary, and excluded fiduciary. Unless the terms of the document provide otherwise, the investment trust advisor has the power to perform the following:
(1) Direct the trustee with respect to the
retention, purchase, sale, or encumbrance of trust property and the
investment and reinvestment of principal and income of the
trust;
(2) Vote proxies for securities held in
trust; and
(3) Select one or more investment
advisers, managers, or counselors, including the trustee, and
delegate to them any of its powers.
Source: SL 2005, ch 260, § 6.
Source: SL 2005, ch 260, § 6.
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