There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 55-1B-6 — Powers and discretions of trust protector.
55-1B-6. Powers and discretions of trust protector. The powers and discretions of a trust protector shall be as provided in the governing instrument and may be exercised or not exercised, in the best interests of the trust, in the sole and absolute discretion of the trust protector and shall be binding on all other persons. Such powers and discretion may include the following:
(1) Modify or amend the trust instrument
to achieve favorable tax status or respond to changes in the
Internal Revenue Code, state law, or the rulings and regulations
thereunder;
(2) Increase or decrease the interests of
any beneficiaries to the trust;
(3) Modify the terms of any power of
appointment granted by the trust. However, a modification or
amendment may not grant a beneficial interest to any individual or
class of individuals not specifically provided for under the trust
instrument;
(4) Remove and appoint a trustee, trust
advisor, investment committee member, or distribution committee
member;
(5) Terminate the trust;
(6) Veto or direct trust
distributions;
(7) Change situs or governing law of the
trust, or both;
(8) Appoint a successor trust
protector;
(9) Interpret terms of the trust
instrument at the request of the trustee;
(10) Advise the trustee on matters
concerning a beneficiary; and
(11) Amend or modify the trust instrument
to take advantage of laws governing restraints on alienation,
distribution of trust property, or the administration of the
trust.
The powers
referenced in subdivisions (5), (6), and (11) may be granted
notwithstanding the provisions of §§ 55-3-24 to
55-3-28, inclusive.
Source: SL 1997, ch 280, § 6; SL 2005, ch 260,
§ 3.
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