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2020 South Dakota Codified Laws
Title 55 - Fiduciaries and Trusts
Chapter 16 - Qualified Dispositions In Trust
Section 55-16-5 - Service as investment trust advisor--Service as fiduciary by transferor.
Universal Citation: SD Codified L § 55-16-5 (2020)
55-16-5. Service as investment trust advisor--Service as fiduciary by transferor.
Any person may serve as an investment trust advisor, as defined in subdivision 55-1B-1(6), notwithstanding that the person is the transferor of the qualified disposition, but a transferor may not otherwise serve as a fiduciary under a trust instrument except as stated in subdivision 55-16-2(2). While serving as an investment trust advisor of the trust, the person may have all powers authorized by statute or by the trust instrument, including the power to vote by proxy any stock owned by the trust.
Source: SL 2005, ch 261, §5; SL 2006, ch 243, §6; SL 2010, ch 232, §28; SL 2012, ch 233, §15; SL 2019, ch 209, §8; SL 2020, ch 206, § 17.
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