South Dakota Statutes

§ 55-1-1 — Purposes for which trust may be created.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-1 CLASSIFICATION AND CREATION OF TRUSTS

Except as otherwise prescribed by chapters 43-4 and 43-25 relating to transfers, a trust may be created for any purpose for which a contract may lawfully be made.

Free access — add to your briefcase to read the full text and ask questions with AI

South Dakota § 55-1-1 (Purposes for which trust may be created.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Related

Willers v. Wettestad

510 N.W.2d 676 (South Dakota Supreme Court, 1994)

9 case citations

Legislative History

CivC 1877, § 1293; CL 1887, § 3916; RCivC 1903, § 1612; RC 1919, § 1190; SDC 1939 § 59.0104; SL 2017, ch 204, § 4.

Nearby Sections

15

§ 55-1-1

Purposes for which trust may be created.

§ 55-1-10

Transfer of real property to one for money paid by another--Trust presumed.

§ 55-1-11

Implied trust--Declaration by court of equity.

§ 55-1-12

Trustor, trustee, beneficiary, power of appointment, and person defined.

§ 55-1-13

Voluntary trustee--Assumption of relationship.

§ 55-1-14

Interest in existing trust--Transfer by operation of law or written instrument.

§ 55-1-15

Certain trusts not terminated upon trustor's death.

§ 55-1-2

Trusts classified.

§ 55-1-20

Trusts for noncharitable purposes.

§ 55-1-21

Trust for care of animal, care of other property, or other lawful noncharitable purpose.

§ 55-1-21.1

Termination of trust for care of animal.

§ 55-1-21.10

Trustee may not use principal and income other than for trust's purposes.

§ 55-1-21.11

Co-enforcer appointment--Powers.

§ 55-1-21.2

Judicial reduction of property transferred to trustee if trust corpus exceeds amount required for intended purposes.

§ 55-1-21.3

Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.

View on official source ↗