2006 South Dakota Code - 55-4-38 — Limitation on trustee\'s power to make distributions to his or her benefit.

55-4-38. Limitation on trustee's power to make distributions to his or her benefit. Unless the terms of the trust refer to this section and provide otherwise, a power exercisable by or attributable to a person, other than the settlor, in such person's capacity as a trustee to make discretionary distribution of either principal or income:

(1) To or for the benefit of himself or herself shall be exercisable by the person only for the person's health, education, maintenance, and support in the person's accustomed manner of living; or

(2) To or for the benefit of others, may not be exercisable to discharge any of the person's own legal obligations.

Source: SL 2000, ch 229, § 4.

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