There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 60 LABOR AND EMPLOYMENT
Chapter 13. Employee Benefit Trusts
§60-13-2 Validity of prior trust for benefit of employees.
SD Codified L § 60-13-2 (through 2011) What's This?
60-13-2. Validity of prior trust for benefit of employees. No rule of law against perpetuities or suspension of the power of alienation of the title to property may operate to invalidate any trust created or attempted to be created, prior to July 1, 1955, by an employer as part of a stock bonus, pension, disability, death benefit, insurance, endowment, annuity or profit sharing plan for the benefit of some or all of the employer's employees to which contributions are made by the employer or employees, or both, for the purpose of distributing to the employees earnings or principal, or both earnings and principal of the fund held in trust.
Source: SDC 1939, § 59.0119 as enacted by SL 1955, ch 428; SL 2008, ch 276, § 99.
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