There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 55 FIDUCIARIES AND TRUSTS
Chapter 01. Classification And Creation Of Trusts
§55-1-20 Trusts for noncharitable purposes.
SD Codified L § 55-1-20 (through 2011) What's This?
55-1-20. Trusts for noncharitable purposes. Subject to the provisions of §§ 55-1-21 and 55-1-22, a trust may be performed if the trust is for a specific lawful noncharitable purpose or for lawful noncharitable purposes to be selected by the trustee. Neither the common law rule against perpetuities nor any common law rule limiting the duration of noncharitable purpose trusts is in force in this state.
Source: SL 2006, ch 247, § 1; SL 2008, ch 257, § 1; SL 2011, ch 212, § 40.
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